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If a loan mortgae loan was charged off, can it be foreclosed on ?

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vprice78 Joined: 04 Nov 2009 Posts: 2 1.24 Dollars($)	Posted: Fri Feb 19, 2010 4:38 pm    Post subject: If a loan mortgae loan was charged off, can it be foreclosed Like 0 Dislike 0 Long story short.. i live in grandparents home. Both are deceased now. I took over things while one was still alive but had to go in rehab but she died shortly after. I have been there for four years now I lost t rack of making payments $165 due to banks changing and because I'm not power of attorney they wouldn't release info or forward a new payment book. After relentless tries I gave up on sending payments. Finally I tried again and called with my story and they said it had been charged off. 6 months later a collection agency is wanting to collect the balance of $10000 roughly. Should i pay on it or wait to the family finaly feels like going through probate in which is a whole nother story. I don't want the house lost to foreclosure.
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Feb 21, 2010 9:52 pm    Post subject: Like 0 Dislike 0 Hi vprice, As the loan has been charged off, you will have to pay the dues to the collection agency. You may negotiate with the collection agency and get the dues reduced. You can pay it off and get rid of the harassing calls from the collection agency. _________________ Procrastination is the enemy of your financial success

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