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Monday, October 8, 2012

Chicago Tribune Reports: Years After Loan Default, Homeowners May Still Owe

April 08, 2010 By Jim Wasserman, McClathy Tribune News

Sacramento, Calif-"Homeowners defaulting on mortgage today may be surprised to learn years from now that they will still owe thousands of dollars --and a collection agency is coming after them to get it.

That's because lenders have been quietly selling second mortgages and home-equity lines left unpaid after foreclosure and short sales. The buyers are collection agencies, which in some states have years to make a claim."

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