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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CGI Launches Loan Modification Service for Banks
11 March 2009
Cramdown Rules to Hit Unsecured Creditors, Depending on Language
9 March 2009
Executive Change: William P. Foley, II to Retire as Chairman of Lender Processing Services
5 March 2009
TransUnion.com: Home Loan Delinquency Rates Rise for Eighth Straight Quarter
3 March 2009
Mortgage "Cramdown" Rules Could have Major Impact on Debt Buyers
25 February 2009
JPMorgan Chase?s Dimon Supports Mortgage Modification Plan
19 February 2009
Debt Buyers Eagerly Eyeing Treasury Department?s Recovery Plan
13 February 2009
Foreclosure Activity Decreases 10 Percent in January
12 February 2009
Many Home Buyers Need Higher Loan Limits, Upper-End Stalled
16 January 2009
Delisting of Securities of Franklin Credit Management Corp. From The NASDAQ Stock Market
16 January 2009
Foreclosure Activity Increases 81 Percent in 2008 According to Realtytrac
15 January 2009
Fannie Mae Extends Foreclosure Sale and Eviction Suspension
9 January 2009
Bankrate: Mortgage Rates Flirt with Record Lows
9 January 2009
Auto Loans, Home Equity Delinquencies Rise in Third Quarter 2008: ABA
8 January 2009
Navy Federal Credit Union Commits $6 Billion for Mortgage in 2009
5 January 2009
Repeat Failures on Home Loans Reveal Faulty Modifications
23 December 2008
Ocwen Financial Corporation Announces Plan to Spin Off BPO and ARM Operation
22 December 2008
Stag-Deflation Threatens, Fed?s 0% Rate Beckons Homeowners
22 December 2008
Illinois AG Sues Chicago Lien Filing Service For Fraudulent Practices
18 December 2008
Ocwen Reports on Success of Customized Loan Modification Program
15 December 2008