Posted on: 09th Mar, 2010 02:12 am
our first mortgage is current with hsbc and has a permanent rate modification using naca. they wouldn't do anything with our second mortgage. i was just advised the second mortgage has charged off. also with hsbc. we don't wan't to loose our house. what can we do now? the lender denied us any help on the second after months of not being able to communicate with me because naca was involved.
Hi tdean,
You can contact NACA and check out if they would be able to help you with your second mortgage. If the second loan is charged off, then a collection agency will contact you and collect the dues. If you cannot pay the dues, then they can sue you for it. Also, a charge off will have a negative impact on your credit report. To know more about second mortgage charge off, check out the given page:
http://www.mortgagefit.com/know-how/secondloanchargeoff.html
Thanks
You can contact NACA and check out if they would be able to help you with your second mortgage. If the second loan is charged off, then a collection agency will contact you and collect the dues. If you cannot pay the dues, then they can sue you for it. Also, a charge off will have a negative impact on your credit report. To know more about second mortgage charge off, check out the given page:
http://www.mortgagefit.com/know-how/secondloanchargeoff.html
Thanks