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Can a second mortgage company sue you?

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Icon Mini Profile nglane



Joined: 22 Aug 2006

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PostPosted: Tue Aug 22, 2006 4:11 pm    Post subject: Can a second mortgage company sue you?

If you owe a second mortage loan and are behind 4months what can the second mortage company do to you?
 
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Tennyson

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PostPosted: Tue Aug 22, 2006 4:47 pm    Post subject:

Hi,

The second mortgage holder can begin the process of foreclosure.

Thanks
 
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Derrick

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PostPosted: Tue Aug 22, 2006 5:08 pm    Post subject:

Hi,

I think you should contact your mortgage company and explain the reason for falling behind on the payments.

It is quite probable that they will help you out with some measure to come back to track with the payments.

Derrick
 
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Icon Mini Profile colin
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PostPosted: Tue Aug 22, 2006 5:18 pm    Post subject:

Hi,

On this page you will get some suggestion on how to progress after falling behind in monthly payments.

Colin
 
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Icon Mini Profile Caron
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PostPosted: Wed Aug 23, 2006 12:45 am    Post subject: RE: What can second mortgage company do?

Hi,

The second mortgage company cannot call for a foreclosure. That is not possible until and unless your property is free from the first mortgage. If you have already paid off the first loan, then perhaps the company can foreclose the property.

I shall suggest that you negotiate with the company for an alternative payment plan, so that you can be current on the loan payments and avoid foreclosure.

Thanks,

Caron.
 
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barbara alicea

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PostPosted: Thu Jun 26, 2008 11:47 am    Post subject: predatory loan satisfied w/ settlement. now want more money

I am in a continuous nightmare w/ a predator loan. They were the 2nd mortgage on the home. The 1st was current. They took us to court, but the judge through out the claim as non permissable. I sold the house 5 months later and made an agreement to pay the principle amount. I wanted to honor the loan even though it was deemed a predatory loan. I want to pay the princple. They agreed to this along w/ some other stipulations. On Oct. 28,2005, they recieved a wire transfer of the money. The debt was settled. Two years later, they are back stating we owe a different monetary amount. Also another bank (Deusth) now owns this account. They have since sold it to two other debt collection companies. I am being harassed by these peolple. Ihave the docs w/ the settlement agreement, but they say I still owe this amount. I want to know can I sue for the settlement amount and more for the harassment, etc?
 
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Icon Mini Profile larry



Joined: 27 Jun 2007

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PostPosted: Fri Jun 27, 2008 4:01 am    Post subject:

Hi barbara.

Welcome to the forum.

If you think that you have paid off the debt then you can ask then for debt validation in writing. If they are harassing you and you don't owe the debt then you can file complaints with the Federal Trade Commission and Attorney General's Office in your state.

Feel free to ask if you have any further questions.

Best of luck,
Larry
 
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Icon Mini Profile smaildaytoday



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PostPosted: Sun Jun 29, 2008 7:20 am    Post subject:

Hi, if you owe a second mortage loan, the second mortgage company can claim a foreclosure for your house.
 
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Barbara Alicea

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PostPosted: Thu Aug 21, 2008 10:44 am    Post subject: Debt collecter ignores validation letter

I sent a debt validation and Cease & desist letter. I settled the account over two years ago. They have the proof. They are now saying the settlement was only to release the lien on the property. They have since sold the account to two other companies. I send the same letters and the claim always end back with Resurgent Capital Management. I should add that i 2005 a judge dismissed the case. I however, settled and now in 2007 the want to renege on the settlement. In 2008 they are stating the settlement was not a settlement. ( I do have the signed agreement of settlement) I have sent letters to NJ & SC Attorney Generals offices, the BBB, and the FTC. I am unable to get any help. Can I now sue them for actual, punitive, compensatory and statutory damages? I have lost my home, my marriage, a good paying job, etc. This is driving me crazy. I am on SS Disability. What can I do?
 
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Icon Mini Profile helping_user
helping_user


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PostPosted: Fri Aug 22, 2008 12:54 am    Post subject: RE:

Welcome barbara.

It looks like the debt collector now wants to extract more money from you. That's the reason he's simply ignoring the settlement amount you paid.
Quote:

I should add that i 2005 a judge dismissed the case.

Do you mean the judge ruled out any chances of the collector asking for payments? I think you can sue them but you need to consult an attorney to find out for what type of damages you can sue the collector.

Thanks.
 
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Icon Mini Profile gmakerley
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PostPosted: Fri Aug 22, 2008 9:19 am    Post subject:

i was about to suggest speaking with an attorney also.

as to the original question, of course a second mortgagee can bring foreclosure proceedings. any party with an interest in (lien on) a property can begin a foreclosure action if the need should arise.

_________________
George M. Akerley
Senior Loan Officer
Freedom Mortgage Corporation
37 Jerome Avenue
Bloomfield, CT 06002
860-286-0444
 
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Barbara Alicea

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PostPosted: Sun Sep 14, 2008 1:08 pm    Post subject: Case dismissed without predjudice.

The judge ruled against the predatory loan company. He dismissed without predjudice. The ruling came with me in absentia. I know this mean they can try to sue again. However, I did not let it come to this. We agreed for a settlement of the principal balance. It has been about 4 weeks since I last heard from them. i have sent letters of complaint to the bbb and the FTC, along with SC attorney general. I sent a debt validation and a cease and desist letter. they tried to send me some bogus non-validation information. i pray the nightmare is now over. The FTC and the state attorney general were really no help. I believe the threat of using their names may of made the collectors cease all communication. I now have to deal with the credit bureaus for placing info on my report with validation.
 
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Icon Mini Profile lisascherzer



Joined: 04 Jan 2008

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PostPosted: Mon Sep 15, 2008 11:23 pm    Post subject:

I would have an attorney look over the paperwork that was signed since it could contain wording that may not be in your favor. It is the only way to get to the bottom of this. Hope it works out for you.
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Allpointe Mortgage
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