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mns1971

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Non-Recourse Loan California
We lost our home in 2010 via foreclosure. There's a second mortgage known as "purchase money loan" or also know as non-recourse loan for which a mortgage company is trying to collect. I did my research and in California, these types of loans are non-recourse loans. Meaning that if there wasn't enough money to cover the second loan in the foreclosure that lender is basically out of luck. This loan was sold several times and for the past year I've been getting statements asking for payment for this loan. It's also included in my credit report as a mortgage loan. I called the mortgage company, which is not in California, and explained to them the situation. However, they keep sending me statements and wanting me to make payments. My question is, can I write my self a stop and desist letter so they stop trying to collect and remove this loan from my credit report or do I need to have an attorney assist?

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You can write them yourself, no need for an attorney unless you plan on suing them.  Also, write letters to all three credit bureaus and tell them the account should have a zero balance.  Be persistent but polite.  Best of luck!

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