Foreclosure in Boston>Question Details

Mugsie, Other/Just Looking in Boston, MA

2 yrs after my forclosure, i am getting calls from a company that bought indy's debt and are now coming after difference owed $53k - what do I

Asked by Mugsie, Boston, MA Fri Sep 24, 2010


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Elad Bushari’s answer
You'll need to consult with an attorney. The fact that you got foreclosed on doesn't mean you don't owe anything; the bank just exercised it's right to foreclose since you did not pay them.

This is, by the way, a good incentive for owners to go through a short sale process.
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1 vote Thank Flag Link Fri Sep 24, 2010
You absolutely need an attorney to review all the documents you signed as part of the foreclosure & what your rights & responibilities are. These are very specific legal questions and need the proper legal advice on how to proceed & respond.

Hope that helps,
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1 vote Thank Flag Link Fri Sep 24, 2010
Call a lawyer! It is important to know whether Massachussetts even allows for deficiency judgments and whether your specific case permits them as well. This foreclosure mess is so confusing it may be possible that the company that bought the debt is not familiar with the rules.
1 vote Thank Flag Link Fri Sep 24, 2010
The Junior & Vi...
Boston, MA
I agree with my colleagues, you definitely need the expert advice of an attorney. From my years of experience, you may be looking at possibly filing a bankruptcy in order to discharge this debt. A good attorney will guide you through the whole process--just make sure this is an area of their true expertise. Good luck!
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0 votes Thank Flag Link Fri Sep 24, 2010
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