Chase Sends To LCS After Short Sale

Has anyone ever hear of a collection Company coming after someone for a satisfied mortgage?

Last month I completed a short sale my house, the Bank, Chase Mortgage, received a fair price, they signed off on everything. At the time of sale and closing remaining balance, which was in writing, was $0.00, I owed nothing, I was free and clear.

Chase sent all the paperwork and the lien release to the title company and we closed, the new owner took possession, all was well. 3 weeks after the closing, I just received a notice from a company apparently representing Chase called LCS financial stating I owed just shy of $60,000.00!!!!

There was no paperwork or ANYTHING from Chase or the title company at closing that stated the loan was not satisfied. Is this a scam or has Chase sold the paper to some clown company who thinks they will receive a few bucks???

Any helpful info is appreciated.

Andrew

———–

Hello Andrew,

If your estoppel letter says that there is a zero balance owed then I’d send a letter to the collection company by CMRRR stating such and that they are attempting to collect on a debt that is not valid.

Everyone involved in a short sale has to read those short sale payoff letters carefully.

Thanks for the questions and hope this helps.

Paul

This author is not an attorney and this information should not be considered legal advice. Please consult an attorney for legal advice.