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.
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TransUnion: Improved Mortgage and Credit Card Delinquencies Expected by End of 2010
9 December 2009
TransUnion.com: Mortgage Loan Delinquency Rates on Course to Hit Record in 2009
18 November 2009
October Foreclosure Activity Down 3 Percent From Previous Month, Up 19 Percent From October 2008
12 November 2009
As Some Top Metro Foreclosure Activity Rates Decrease, New Foreclosure Hot Spots Emerge in Q3
28 October 2009
U.S. Foreclosure Activity Sets New Quarterly Record, Up 23 Percent From Q3 2008
15 October 2009
Consumer Delinquencies Continue Upward Climb In Second Quarter 2009
1 October 2009
Ask The Experts: Can Mortgage Backed Securities Debt Be Sold?
14 September 2009
SoundBite Introduces Making Home Affordable Accelerator Solution for Mortgage Servicers
10 September 2009
Foreclosure Activity Remains Near Record Level In August, According To RealtyTrac
9 September 2009
Executive Change: NCCI Welcomes Two New National Account Managers
27 August 2009
Mortgage Delinquencies Set Record in Second Quarter
21 August 2009
TransUnion.com: Mortgage Loan Delinquency Rates Rise - But Pace Is Slowing
17 August 2009
U.S. Foreclosure Activity Increases 7 Percent in July; Up 32 Percent from Last Year
13 August 2009
Convergys Expedites Loan Modification Process for Sterling Home Retention with New Relationship Management Contract
4 August 2009
Ocwen Endorses Administration's Stepped-Up Effort to Promote Mortgage Modifications
31 July 2009
Sun Belt Dominates First Half 2009 Foreclosure Rankings But Unemployment-Related Foreclosures may be Spreading
30 July 2009
U.S. Foreclosure Activity Up 11 Percent in Q2 to Highest Quarterly Total on Record
16 July 2009
ICT GROUP Offers Proprietary Loan Modification Solution: Accelerated Assist
19 June 2009
Loan Modification and Delinquency Management Approaches that Build Loyalty
18 June 2009
Collections agency owner educates homeowners associations about changing industry
15 June 2009