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SECOND MORTGAGE AFTER FORCLOSURE?

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Guest	Posted: Mon May 16, 2011 3:33 am    Post subject: SECOND MORTGAGE AFTER FORCLOSURE? Like 0 Dislike 0 I CALLED MY SECOND MORTGAGE FOR A SETTLEMENT THEY TOOK MY INFO AND SAID FOR ME TO CALL AFTER 30 DAYS SO THEY COULD MAKE A DECISION. I CALLED BACK AND THEY SAID IT WAS A WRITE OFF. WHAT DOES THIS MEAN?
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Mon May 16, 2011 9:31 am    Post subject: Like 0 Dislike 0 A write off would be a charge off. They are charging off the debt, or a write off of a loss on investment. You now need to know if the lender has any right to a deficiency judgement or any other collection rights now that the debt has been charged off. Contact a local attorney and get a free consultation on your rights. _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon May 16, 2011 8:17 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! It means that they have charged off the loan and may have sold off or assigned it to a collection agency. The collection agency may now contact you and collect the dues from your. Feel free to ask if you've further queries. Sussane

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