kmerrifield
New Member
Hi. I had a home foreclosed on about 2 years ago. It had a first and second mortgage. I was paying mortgage insurance on both of them. Now I am getting calls from a collection agency called LTD financial telling me I must pay the 51000 on the second mortage to AIG United Garuntee which is the PMI company. They told me that AIG paid HSBC (the mortgage holder) the amount for the defaulted loan and that I owe them the amount defaulted. I cannot find any of this in any of my closing documents, other then I agree to pay mortgage insurance. I asked what happened to the money that was obtained when the house was resold, they told me HSBC got that money too. So I asked how it was possible to get 51000 from the sale of the home, and 51000 from AIG for the foreclosure claim, and stated that it sounded illegal to me. He said it
"May be shady, but it is not illegal". This seems really werid to me. Especially since they waited for 2 years after the house was foreclosed on to contact me. What should I do? Thanks for any help!
"May be shady, but it is not illegal". This seems really werid to me. Especially since they waited for 2 years after the house was foreclosed on to contact me. What should I do? Thanks for any help!
