Do I Owe My Mortgage Company Money After My Foreclosure? – Clint

By Steve Rhode
Ask me your question.

Clint wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to help me to help others, there are easy and free things you can do, click here to learn how you can help.

“Dear Steve,

Does this mean that when they auctioned my home that the company got what i owed them?

Clint”

Dear Clint,

The image you supplied me with is of the mortgage as it is reported on your credit report. A credit report can only display information that a lender has elected to provide. I’m afraid the information here is incomplete.

The X marks starting in December 2004 indicate that the lender was no longer reporting the monthly status to the credit bureau and the notation says “Foreclosure initiated”. I’m afraid that’s not enough to make a definitive determination that everything worked out fine on the loan.

On the positive side, it appears that your mortgage troubles occurred when the real estate market was strong and if the foreclosure was actually completed then the lender probably took the house back and resold it without an additional loss to the mortgage. That would leave you off the hook.

Only you will know if you’ve be contacted subsequently by the lender or a collection company with a claim that you owe money for a deficiency created by the foreclosure.

Big hug.

@GetOutOfDebtGuy

Source: Do I Owe My Mortgage Company Money After My Foreclosure? – Clint

Originally posted 2009-07-17 07:27:33.

Do You Have a Get Out of Debt Question You Want to Ask?

I'm happy to answer any question you have about how to get out of debt, as honestly as possible by sharing with you my experience and truth that I learned from helping thousands of people to get out of debt. Don't be shy, if you need help, ask now, click here.

And if you want to follow the latest questions and answers, just subscribe to my site RSS feed or get the email newsletter for free.