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LawTalk
LawTalk, Attorney
Category: Legal
Satisfied Customers: 37006
Experience:  I am a practicing attorney with more than 3 decades of experience in the legal field.
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My legal question is: My house was charged off over 9 years

Customer Question

My name is*****
My legal question is: My house was charged off over 9 years ago. I have been paying the mortgage company for the past 9 years $300. a month. Even though the house was charged off I been paying them faithfully and they have never removed the lean. This past year I dropped the payment to $100. because the lean prevented me from getting help with my taxes.
If they charged the house off am I legally obligated to keep paying them?
Submitted: 1 year ago.
Category: Legal
Expert:  LawTalk replied 1 year ago.

Good afternoon Marlene,

I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.

A charge off is a tax issue only, and allows the lender to write off the loss for tax purposes. The write-off does not mean that the debt is forgiven or that the lender cannot seek to collect the debt from you.

You are still under contract and in theory should be paying the full amount of the mortgage due each month. They have probably taken the position that some money is better than none, and better than foreclosing---but so long as you still pay something regularly on the debt, they can always come back and foreclose on the property when it becomes financially worthwhile for them to do so. They are probably just biding their time and will foreclose when they believe the value of the property has increased enough to warrant foreclosing on the property.

Whether you pay them or not is really up to you. Just know that they could sue you for the debt or even foreclose and take the house at any time based on the default.

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.

I wish you and yours the best this holiday season,

Doug

Customer: replied 1 year ago.
My house went into foreclosure because of the tax issue. It was turned over to the county tax assessors office. Do they still have claim to the house?
Expert:  LawTalk replied 1 year ago.

Good afternoon,

Does who have claim to the house?

Customer: replied 1 year ago.
Does the mortgage Company still have claim to the house, after the house went into foreclosure through the county for taxes. I manage to pay the taxes and take it out of foreclosure
Expert:  LawTalk replied 1 year ago.

The tax issue was not a foreclosure---but a tax lien which if it went unpaid the county could have sold the house. If the taxes were ultimately paid by you to the county and you recovered the property then the taxes are no longer an issue.

However, if you are still not caught back up on your mortgage, the mortgage company can still foreclose on your property and take it from you to sell at a foreclosure action.

So long as you paid the taxes, the county will no longer have a claim (lien) against your house---that is correct.

Please be so kind as to rate my service to you. That is the only way I am credited for assisting you.

I wish you and yours the best this holiday season,

Doug

Customer: replied 1 year ago.
I did not recieve an answer to my question, as a response to your question.
Customer: replied 1 year ago.
2nd response,
Does the mortgage Company still have claim to the house, after the house went into foreclosure through the county for taxes. I manage to pay the taxes and take it out of foreclosure
Expert:  LawTalk replied 1 year ago.

I did answer that when I wrote:

However, if you are still not caught back up on your mortgage, the mortgage company can still foreclose on your property and take it from you to sell at a foreclosure action.

Please understand that in order for me to be compensated for having helped you, I need for you to positively rate my service to you by clicking on the rating stars---three stars or more. It is that easy.

Thanks in advance.

I wish you the best,

Doug