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kak
New Visitor
Posts: 1
Registered: ‎09-13-2007
0

foreclosure with home equity

I had a house foreclosed on approx. 7 years ago. At the time I also had a home equity loan on the house for $23,000. I assumed this was included in the foreclosure, however, the $23,000 shows on one of my credit reports as in collection. I have not made any payments or had any contact with this company since the foreclosure. Do I still owe them 23k even though I do not own this house anymore. Can they still come after me for the money now or 10,20,30 years from now? Thanks for any help I can get.
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: foreclosure with home equity

2nd Mortgages are 2nd in line to get their money.
How much was the first note and how much did they sell it for?
The CA will drop 7 year after DOFD
The SOL in your state will determine how long they can sue you. (Written contract)




kak wrote:
I had a house foreclosed on approx. 7 years ago. At the time I also had a home equity loan on the house for $23,000. I assumed this was included in the foreclosure, however, the $23,000 shows on one of my credit reports as in collection. I have not made any payments or had any contact with this company since the foreclosure. Do I still owe them 23k even though I do not own this house anymore. Can they still come after me for the money now or 10,20,30 years from now? Thanks for any help I can get.



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