Legal Question in Real Estate Law in California

My second mortgage from Patelco Credit Union was charged off last June of 2010 and was advised by the bank to keep paying it If I want to keep my house - so I did keep paying it. MY question is: are we still legally responsible for my second mortgage to keep paying it even though it's been reported to all 3 credit bureaus that it has been charged off? Please advise...


Asked on 6/24/11, 11:11 am

1 Answer from Attorneys
George Shers Law Offices of Georges H. Shers

What the credit bureaus show has no binding effect on anything. What is important is what Patelco has decided to do on the loan. You need to check with someone at the supervisor level to see what their position is.

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Answered on 6/24/11, 11:28 am


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