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I had two interest only loans with Aurora (80/20) for a townhouse that I was talked into buying in 2006 (but was ultimately NOT something I could afford). I tried my best to keep up with the payments, but was upside down after I lost my job a couple of years ago. The bigger of the two loans foreclosed last year. During that foreclosure process, the second, smaller loan was sold to Real Time Solutions (or so the letter said). I continue to get threatening letters and phone calls from RT Solutions over a year later... they want me to pay on that second loan. I cannot pay this loan any more than I could have stopped the larger one from foreclosing! I am unemployed right now. My questions are these: What can RTS do? Can they eventually sue me and try to take my property (since they have no wages to garnish right now)? I just got married in October... can they go after my husbands' wages or property? (he didn't even know me when I got the two loans). If I have no income and my husband is supporting me right now, how can I make a settlement with them? I don't understand why this company (or collections agency... still not clear on what exactly they are) is coming after me for money on a property that I had to let go of over two years ago! Help!!!!!!

jameshogg · Posted: Mon Aug 15, 2011 8:14 pm Post subject:

Hi KBKing,

RTS is a collection agency. Though that property has been foreclosed, you still owe the second mortgage. The lender has charged off the account and sold it off to a collection agency. If RTS really owns your debt and if you're not making the payments on time, then they can take legal actions against you and place a lien on your other assets.

Thanks

sabrinatoss · Posted: Tue Aug 16, 2011 1:11 am Post subject: hi KBKing!

You need to seek for a legal advice and let them evaluate your problem and find the best solution for it. There are many factors that can cause why this collection agency keeps on following you around with your past debt. You might have some mistakes in the past regarding your documentations, secure to get an advice as soon as possible so that this won't become a big issue.

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