Legal Question in Real Estate Law in Virginia

I made a loan at Bank Of America for $56,000 to pay off my high interest second mortgage in Virginia in 2007. Now, the house is foreclosed. That loan transferred to United Guaranty Commercial Insurance Company of North Carolina (AIG), and now I got contacted by a collector called DCS Inc. in Livermore California. They ask me to pay for loan amount, and I told them that the house foreclosed, but they said I still have to pay for this loan.

DCS Inc. offers me 6,000. If I pay this 6,000 within the next three installments then I am done with my debt.

Do I have to pay for it?


Asked on 11/10/09, 12:19 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

A lawyer should review all of the relevant paperwork associated with this matter including any offer of settlement from this collector before you attempt to pay anything.

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Answered on 11/15/09, 10:28 am


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