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.
Filter by Location
Texas AG Charges Home Loan Servicer With Violating Debt Collection Laws
31 August 2010
New York Collection Attorneys Secure Court Victory for Creditor
23 August 2010
National Mortgage Data on Delinquencies Fall for Second Straight Quarter
18 August 2010
Foreclosure Activity Increases 4 Percent in July
12 August 2010
75 Percent of Top Metro Areas Post Increasing Foreclosure Activity in First Half of 2010
29 July 2010
S&P/Experian Index Confirms Declining Trend of Default Rates
21 July 2010
Banks Forced to Repossess Homes Despite Collection Efforts
16 July 2010
1.65 Million U.S. Properties Receive Foreclosure Filings in First Half of 2010
15 July 2010
Strategic Defaults Remain High, But Relief May be in Sight
29 June 2010
Ocwen Continues as Mortgage Modification Leader in Federal HAMP Program
25 June 2010
National Creditor?s Connection Establishes New Short Sales Desk
21 June 2010
Foreclosure Activity Decreases 3 Percent in May: Realtytrac
10 June 2010
Countrywide/Bank of America Will Pay $108 Million for Overcharging Struggling Homeowners
8 June 2010
First Quarter Credit Card Charge-offs Increase, Delinquencies Decline: Fed
8 June 2010
Executive Changes: Zenta Announces Additional Client Management Executives
4 June 2010
59 Percent of Homeowners With a Mortgage Would Not Consider Walking Away From Their Home
27 May 2010
Green River Capital Launches Short Sale Provider; Gets Licensed as Debt Collector
26 May 2010
Quantum Servicing Receives ?Best Practices Award? for Contact Center Technology from Noble Systems
19 May 2010
Consumer Credit Defaults in Autos and Mortgages Drop; Defaults in Bank Cards Accelerate
19 May 2010
Foreclosure Activity Decreases 9 Percent In April According To Realtytrac
13 May 2010