I have two rental properties in foreclosure. One was voluntarily dismissed by the mortgage company (probably/maybe due to insufficient collateral value), the other has legal description problems. Has anyone been personally pursued or have knowledge of a lawsuit for the note only? The mortgage company on the former property (the rental home which the lender voluntarily dismissed the foreclosure) has renewed its phone campaign after the dismissal, and is calling my husband repeatedly asking him for the balance of the note in full. Is their next move to sue us personally? Is the timeline for something like this much shorter as it essentially amounts to the same thing as a credit card debt? Thanks for any help.
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My 2nd lender is suing us personally on the Note. We are underwater over $100K on the 1st, no equity to secure the $160K 2nd. They are a local bank and we told them we were working out a HAMP/MHA mod with Sun Trust, but they went ahead and sued us anyway. Today I meet with my attorney to discuss filing a response to their lawsuit----will see how it turns out. -
did you file bankrupcy ? if so and its 7 and both were involved they cant do thatlost job 4-7-09
filled chap(7) 5-09
missed first mortgage payment 5-09
discharged 8-28-09 (still in house as of 12-3-09)
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We filed CH 7 BK last December but had to withdraw our petition due to UST objections over too much income and too much house, among other things. Our case was withdrawn on 14 April, then on 26 April the second lender filed their lawsuit. Also the other creditors are coming after us and we are dealing with that as well. Might go CH 13 in the future, depending if Sun Trust agree's to modify our 1st or not. Its a complex situation...Comment
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