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


“Dear Steve,

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



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.


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