Are lenders allowed to come to your home or office for colle

owner · Joined: 10 Nov 2007 Posts: 2 1.57 Dollars($)

If I'm late on my payments, my mortgage company sends a blood hound to my office or home. I would rather have written notices in my mail because of the legal aspects. Is it legal for him to do this?

livinginnky · Posted: Sat Nov 10, 2007 11:26 am Post subject:

That's a good question. I don't know the answer and have never heard of one doing so.

What type of mortgage company is it?

a1sundevilsfan2 · Joined: 01 Nov 2007 Posts: 32 14.61 Dollars($)

I have never heard anyone going through this. I would think speaking on a legality issue, if they came to your home and/or work in person would be considered harrasment.

This sounds like a mafia approach to me!!!

owner · Joined: 10 Nov 2007 Posts: 2 1.57 Dollars($)

It is a builder's mortgage company, located in Texas and Florida. I am in Texas.

jameswells · Posted: Sun Nov 11, 2007 2:45 pm Post subject:

I personally collected in this fashion in the past and it isn't fun for the collector either. It depends on the loan documents and the state laws. Texas has fairly strict collection laws (you can legally shoot someone performing repossession in some circumstances within TX- that's why I never collected there).
The fair debt collection act http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm puts limits to what collectors can do. In most cases, if you make a written request (I would recommend using certified mail) for them not to visit your work or home, they can no longer do so; if they do, they violate law. Understand though, once you make the request, you will limit their collection efforts and they may pursue more drastic legal remedies.

Guest

I have never heard debt collection for mortgage but that's for unsecured debts. For mortgage, if one is unable to pay off the debt against the home, then the lender might foreclose or ask the borrower to look out for other options of repaying the debt. But a legal notice and a formal talk are all that's part of it, nothing like sending a blood hound.

What's happened to you isn't legal, that's a sort of harrassment you can say.

jenkin7 · Posted: Tue Nov 13, 2007 4:11 am Post subject:

Hello Owner,

This is really unusual. Lenders generally do not come after you for late payments. They might inform you about the default and might foreclose on your property.

If you make a written request asking them not to visit your home or office, then they should stop doing that.

I would like to ask you one thing - how much late are you in making the payments?

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