Since mortgages are the most secured of any loan type (a lender can foreclose on a house if the loan defaults), collection agencies generally don’t get much mortgage collection work. But there is one large exception: deficiency balances. If a lender approves the sale of a house for less than what is owed by the borrower, the difference is a deficiency balance. In the ongoing morass of the housing market, short sales are commonplace. Lenders will typically forgive deficiency balances. If they do not, that amount enters the ARM process and can find its way to debt collectors.
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National Mortgage Delinquencies Fall 1.74 Percent in Q1: TransUnion
10 May 2010
New Consumer Credit Default Index to Standardize Late Payment Data
5 May 2010
Sherman Financial Buys Remaining Stake in Itself for $172 million
4 May 2010
Veda Advantage: Australian Consumer Credit Demand Down, Mortgages Down 15%
28 April 2010
Foreclosure Activity Increases 7 Percent In First Quarter According To Realtytrac
15 April 2010
NCCI at Forefront of Two New Government Programs to Assist Troubled Borrowers
12 April 2010
Citi Expands Efforts to Keep Families in Their Homes With Commitment to Second-Lien Program
25 March 2010
RealtyTrac February 2010 Foreclosure Market Report
10 March 2010
Mortgage Servicer Ocwen Recommends Improvements to HAMP Program That Could Help More Distressed Homeowners
4 March 2010
DebtX to Sell $105.5 Million Portfolio
2 March 2010
Rising Strategic Mortgage Defaults Broadly Impacting Debt Collection Industry
18 February 2010
TransUnion: National Mortgage Delinquencies Jumped 10.24 Percent in 4Q
16 February 2010
Foreclosure Activity Up 15 Percent From January 2009; Down 10 Percent From December
11 February 2010
TransUnion Study Finds More Consumers Making Payments on Their Credit Cards Before Their Mortgages
3 February 2010
Veda Advantage Credit Demand Index - October to December 2009
2 February 2010
Las Vegas, Cape Coral, Metro Foreclosure Rates Highest Among Major Metro Areas in 2009
27 January 2010
RealityTrac Year-Emd report Shows Record 2.8 Million U.S. Properties with Foreclosure Filings in 2009
14 January 2010
Movement Underway to Shift Money from Large Banks to Community Banks
13 January 2010
The Fed?s Culpability in Financial Crisis ? Washington Post
23 December 2009
Equifax Data Show U.S. Consumer Payment Trends Continue to Deteriorate
23 December 2009