Comments on: MS Foreclosure and Statue of Limitations.? http://www.bestforeclosurenews.com/ms-foreclosures/ms-foreclosure-and-statue-of-limitations Todays Foreclosure News & Info Sun, 03 Jan 2010 06:42:13 +0000 hourly 1 By: Landlord http://www.bestforeclosurenews.com/ms-foreclosures/ms-foreclosure-and-statue-of-limitations/comment-page-1#comment-1918 Landlord Fri, 05 Jun 2009 09:15:59 +0000 http://www.bestforeclosurenews.com/ms-foreclosures/mortgage-foreclosure-and-statue-of-limitations#comment-1918 The foreclosure already went to court, well under the SOL. The SOL does not mean that debts are forgiven, only that they can no longer be sued for. They are not sueing him, they are collecting on a debt that already went to court. He will be obligated to pay this until he has done so and it is completely legal for them to attempt to collect the money owed until he has taken care of it.<br><b>References : </b><br> The foreclosure already went to court, well under the SOL. The SOL does not mean that debts are forgiven, only that they can no longer be sued for. They are not sueing him, they are collecting on a debt that already went to court.

He will be obligated to pay this until he has done so and it is completely legal for them to attempt to collect the money owed until he has taken care of it.
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]]> By: v b http://www.bestforeclosurenews.com/ms-foreclosures/ms-foreclosure-and-statue-of-limitations/comment-page-1#comment-1917 v b Fri, 05 Jun 2009 09:03:59 +0000 http://www.bestforeclosurenews.com/ms-foreclosures/mortgage-foreclosure-and-statue-of-limitations#comment-1917 If the banks ever give up on the deficiency, the bank will finally write off the loan and send your husband a 1099-C for the full amount. The IRS will expect him to report this as income on his tax return. Your husband is not off the hook for this.<br><b>References : </b><br> If the banks ever give up on the deficiency, the bank will finally write off the loan and send your husband a 1099-C for the full amount. The IRS will expect him to report this as income on his tax return.

Your husband is not off the hook for this.
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]]> By: wisegirl74 http://www.bestforeclosurenews.com/ms-foreclosures/ms-foreclosure-and-statue-of-limitations/comment-page-1#comment-1916 wisegirl74 Fri, 05 Jun 2009 08:52:59 +0000 http://www.bestforeclosurenews.com/ms-foreclosures/mortgage-foreclosure-and-statue-of-limitations#comment-1916 If a debt is owed, there is no statute of limitation for trying to collect it. Just change your number. If you do not want to pay, you may be able to negotiate a lesser amount its been 4 years so you offer them 50% of the amount, they will probably take it. But yes even when you settle they keep coming back to collect so keep the documentation.<br><b>References : </b><br> If a debt is owed, there is no statute of limitation for trying to collect it. Just change your number. If you do not want to pay, you may be able to negotiate a lesser amount its been 4 years so you offer them 50% of the amount, they will probably take it. But yes even when you settle they keep coming back to collect so keep the documentation.
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