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2nd mortgage charged off loan because of fallen value
I was late on my 2nd mortgage, 3 payments, they now tell me they wrote off the loan and have chosen not to take any legal action. Besides the bad mark on my credit, which they say they will remove for $18000. what else will happen ? the loan amount was for 94k, and it was a piggy back loan on my first mortgage, in other words instead of 20% down.
Asked by
astondoc
3 months ago
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Your score will drop. But aside from that, if they aren't going after you, you should be fine. There are probably some statutes of limatations for the debt based on your state.
hardeight 3 months ago