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 arya310706
Joined: 29 Jul 2009
Posts: 48
0.09 Dollars($)
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 Posted: Mon Aug 10, 2009 2:55 am Post subject: foreclosure |
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| What does it mean that my mortgage was charged off? Do I have to move? Who owns the house? I was told that they are not planning to put into a foreclosure. They asked me for a settlement amount. |
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Niicss
Joined: 03 Oct 2005
Posts: 3237
Location: New Jersey
510.78 Dollars($)
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| Posted: Mon Aug 10, 2009 3:40 am Post subject: |
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Mortgage charge off does not mean that you will have to leave the property. It means that your lender is no longer interested to collect the dues from you as you are not paying the dues on time. He has, thus, sold off your account to a collection agency who would in turn collect the dues from you. You can negotiate with the collection agency and try to get a repayment plan to pay off the dues. To know more about charge off, check out the given link:
http://www.mortgagefit.com/know-how/secondloanchargeoff.html
_________________
Good is the Enemy of Great. |
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merry809
Joined: 10 Aug 2009
Posts: 35
0.00 Dollars($)
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| Posted: Tue Aug 11, 2009 9:36 am Post subject: |
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