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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 118642
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Ditech: 2nd mortgage: No full pmts were made and have

Customer Question

Ditech: 2nd mortgage: No full pmts were made and have pre-charge offs in 2014 and post charge offs
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: oops wasn't finished ( in CA) made an agreement for $ 500. mo for 2016 with $ 3000. reduction. the $ 3,000.00 shows up as " Post charge off" what does that mean
JA: Has anything been filed or reported?
Customer: not as of 6 mos ago not sure about currently
JA: Anything else you want the lawyer to know before I connect you?
Customer: we still pay the $ 500.00 do we keep paying if charged off
Submitted: 1 month ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 month ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Expert:  Law Educator, Esq. replied 1 month ago.

Post charge off is an amount of money they reduced from the total amount due, it is written off their books. You would keep paying the amount agreed upon, since the credit for $3000 was already included in the calculation of what you are paying (or was supposed to have been included and if you ask them for an accounting they will likely show that it was). The charge off is the discount and then you complete honoring your agreement.

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