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1st mortgage charge off

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rkatie2007 Joined: 02 Feb 2011 Posts: 1 1.30 Dollars($)	Posted: Wed Feb 02, 2011 4:39 pm    Post subject: 1st mortgage charge off Like 0 Dislike 0 My son's mortgage lender notified him that his account has been charged off and he should get in touch with the recovery center, which is Penncro Associates. They have offered to let him pay 5% of his balance and keep his monthly payments the same after offering him a settlement of 50% to pay it off, which he cannot do. Is this on the up and up and who does he get his deed from after the account is paid in full?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Feb 02, 2011 8:21 pm    Post subject: Like 0 Dislike 0 Hi rkatie! Welcome to forums! Once the account is paid in full, your son will have to contact Penncro Associates in order to get back the deed. Sussane

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