Legal Question in Real Estate Law in North Carolina

This is going to be a long question . I took out a 2nd mtg in 1996 or 1998 , I filed bankrupcy in 2001 and it was dismissed, not discharged . Subsequesntly I have not heard from this company since 2003ish . I have never received a phone call , letter, certified mail , nothing . Appearantly this complany folded in 2005 from what I can tell . Well I went to do a streamline refi on this house and to my surprise a 2nd mtg lien came up . After 8 days of investigation by my refi guy he finds that this 2nd mtg company after it folded was bought by National Capital Mangament , a debt collector .

So I get in touch with this guy from NCM and he says ther is a 13,100.00 balance , that was supposed to mature in December 2011 . Does this company have any right to still demand payment ? Or is there some sort of time frame period that I can use against them since I have not heard a peep from them in a decade . Also ,nothing shows up on my credit report about any 2nd mtg . Or what is the best course of action for me at this point ?


Asked on 12/19/13, 6:18 pm

1 Answer from Attorneys
Kenneth Love Ken Love Law

I suggest you get an attorney to assist you with releasing the lien on the property. I have had success with these cases in the past. There is a 10 year statute of limitations which makes the lien unenforceable if action is not taken during that time. An experienced attorney can help you kill it for a reasonable fee.

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Answered on 12/19/13, 6:34 pm


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