Short Sold My house, now the 2nd mortgage has been sent to collections.

[georgia1977]

Hello,

I short sold my house in Las Vegas and it closed on July 20, 2009. The first Aurora Loans accepted $87,000 and the 2nd Wilshire, $2500. I got a call from a collection agency a couple days ago stating I owe $53,000 for the 2nd mortgage. I said, no I don't I short sold my house in July. I faxed them the HUD 3 because they didn't have any record of a short sale. I went back and read 1 of the 500 pages I had to sign at closing. It reads $2500 is to release the lien to sell the house, and not the debt. WTF??? My agent told me both lenders accepted the Short sale, we are in the clear! So, now I don't know what to do. I also have read that Nevada is an anti-deficiency state if you were a primary resident? Has anybody heard of such a thing? My scores were pretty darn good at 740 and now 690. That is the only negative thing on my report. I don't want to file bankruptcy because of 1 collection. Thinking of having Lexington Law try to remove it once it hits my credit report. I thought having to face the fact of short selling my house was a nightmare... now a new nightmare has occurred. Thank you for any info you may have.

[mommyof2monkeys]

You need to get your 2nd mortgage paperwork out and read it. Our 2nd mortgage released their lien off the house also. However, the paperwork allowed them to convert to a personal loan so even though they released their claim from the house they were still allowed to come after us. We chose to file BK.

 

Tammy