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Can a debt collection agency sell your house/condo?
10 Answers
- Nuff SedLv 72 years ago
As a rule, they cannot sell what they do not own or for which they have no legal or equitable title.
- curtisports2Lv 72 years ago
If the debt collection agency bought the mortgage from a lender, they can foreclose. If the debt is unrelated to the mortgage or the property - such as credit card debt and unsecured loans - the collection agency can sue you for the debt and win a judgment against you. In some cases, they may be able to get a lien recorded against your property, but they can't foreclose on it/sell it. The lien just ensures that they get paid next in line after the mortgage lender, when you sell it.
- Anonymous2 years ago
they have to successfully sue you in Court, first ........................................
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- Casey YLv 72 years ago
If the debt collection agency assumed your mortgage...sure. Its called a foreclosure.
They probably wont do that though, its easier to sue you.
- babyboomer1001Lv 72 years ago
No, and why would they? Their job is to collect a debt. If you owe a debt and you aren't paying it, you can be sued. When you lose the lawsuit and have a judgment against you, then a lien can be levied on your house or condo and then the house/condo can be foreclosed on. All a collection agency does is try to collect the debt, to avoid a lawsuit, which would be to your benefit, because you wouldn't have collection costs, court costs, interest, and foreclose proceedings costs added to your debt.
Source(s): Certified Paralegal, with 25+ years' experience.