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  1. 04-12-2012, 12:03 PM #1
    Cpeairs
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    Second Mortgage sold to insurance company United Guaranty

    2 years ago, I did chapter 7 & both my mortgages were discharged. I am paying on my 1st.

    My 1st in $260, second is $80.... the current appraised value of my home is $240.

    United Guranty was the mortgage insurer of my 2nd mort (originally Citimortgage). They paid $16K for the 80K loan. Now they want me to make pmts on the original 80K amount. They already lowered the interest to 0%

    Can I get them to lower the principal amount to what they paid for the loan, $16K...

    If they charge it off (which is an option) is their a way to get the lein released?
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  2. 04-13-2012, 09:30 AM #2
    Cat Damiano
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    Hi Cpeairs,



    Welcome to the forum and thank you for joining..........

    If the second lien was included in the BK discharge, they shouldn't be able to do this. You may want to contact the attorney that handled your bk and confirm this with them and let them know what is happening. They should be available to you for follow up on your bk.
    Best Regards,

    Cat Damiano
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  3. 07-10-2012, 01:39 AM #3
    redsoxinsocal
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    Can you let us know the outcome of your situation, Cpeairs?
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  4. 07-25-2012, 12:43 AM #4
    redsoxinsocal
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    How do you know that the company paid $16K for the $80K loan?
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  5. 12-01-2012, 10:52 PM #5
    hammerman
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    Quote Originally Posted by redsoxinsocal View Post
    How do you know that the company paid $16K for the $80K loan?
    I would like to know this also... Is there a certain percentage that these insurance companies pay the lender in situations like this?
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