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How long can they chase you ?
DOC_3
Posts: 1 Newbie
For someone who handed keys back for a property to the mortgage company, they sold the property at a loss at auction, how long can they chase the mortgaee for the difference ? Is there a time limit ? Is there any legislation on this ?
0
Comments
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statute of limitations: 12 years.
If they don't write to you stating their intention to reclaim in 6 years, they may be obliged not to seek the difference, but this won't include any insurace company.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0
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