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Charge off

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tko879 Joined: 21 Feb 2008 Posts: 3 1.86 Dollars($)	Posted: Thu Feb 21, 2008 8:53 pm    Post subject: Charge off Can a lender reclaim or sell a property that they charged off?
Michel Guest 0.10 Dollars($)	Posted: Fri Feb 22, 2008 12:06 am    Post subject: Hi, Actually the loan is charged-off and not the property and even after that the lender might send the unpaid balance to the collection agencies. He may try to collect the debt from you or may come after your property. If you don't receive form 1099-C from your lender, you cannot be sure that your unpaid balance has been forgiven.
larry Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)	Posted: Fri Feb 22, 2008 6:10 pm    Post subject: Hi tko879, Can you please explain you situation in detail so that we can give you a better answer? As Michel has already mentioned a property cannot be charged off but a loan can be. Best of luck, Larry
lisascherzer Joined: 04 Jan 2008 Posts: 749 0.10 Dollars($)	Posted: Sun Feb 24, 2008 12:15 am    Post subject: some banks will charge off the debt but I believe they can still foreclose on the property. _________________ Lisa Scherzer Allpointe Mortgage Expert Mortgage Broker 440-521-7060 Get Mortgage Quotes Compare 100+ Mortgage Lenders Here Find Real Estate Agents

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