lawyers, collections, & mortgage
Date: Wed, 04/05/2006 - 10:24
i am refinancing my house. the mortgage company is requiring that they pay any collections under 2 years old. i tried to explain to them that the account was sold, and the collection agency put a new date on the account. the agency had listed the amount owed as 9,576.00, and they turned it over to a law firm to collect. inorder to refinance my home, i agreed to pay $6000.00 as full payment. now the collection agency wants the remaining amount $3,576.00.
can the collection agency require that i pay the remaining ammount?
is it legal for the mortgage company to require that a collection account that has past the sol be paid inorder to refinance?
what can i do to stop the collection agency from changing the dates each time a new agency get the sol account?
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can the collection agency require that i pay the remaining ammount?
is it legal for the mortgage company to require that a collection account that has past the sol be paid inorder to refinance?
what can i do to stop the collection agency from changing the dates each time a new agency get the sol account?
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I can only answer one of the question for you but hopefully this
I can only answer one of the question for you but hopefully this will help.
A Mortgage company can require that they pay any collections under 2 years old. This is a safe guard to ensure that you will be able to pay your mortgage.
One benefit is that the accounts will be reflected as paid and your score will go up.
:D
You have to dispute it with credit bureaus. They cannot change t
You have to dispute it with credit bureaus. They cannot change the original date of delinquency. If your account was put on collection in 2000, it is supposed to go off of your report in 2007. So write a letter to the bureau and explain the fact. Hopefully they will update your report.
