2nd Mort. in collections
Date: Wed, 07/11/2012 - 16:15
I'm in the process of a loan modification and was recently advised that my 2nd mort. $19,000. was sold to an insuance/collections agency. Apparently, there was undisclosed pmi on the loan. I had asked if I should keep that payment current and was told it would be modified after the 1st mort. was mod. I called the lender and they said that it was no longer their account and i would have to deal withe collections agency. I received a letter from the collection/insurance co but i am not sure what to do next. Should I call or write a letter acknowledging the debt? Can i negotiate it down??? I was recently divorced and have never even paid a light bill late. How do i deal with these people. And, my lender says that they would still like to work with me on a loan mod. Are they for real???
How is your lending going to work with you on a loan modificatio
How is your lending going to work with you on a loan modification when they themselves say that the account has been handed over to a collection\insurance company? I say you directly deal with the collector\insurer on this matter and ask for solid paperwork proof of account ownership before you make any payments.
