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Since mortgages are the most secured of any loan type (a lender can foreclose on a house if the loan defaults), collection agencies generally don’t get much mortgage collection work. But there is one large exception: deficiency balances. If a lender approves the sale of a house for less than what is owed by the borrower, the difference is a deficiency balance. In the ongoing morass of the housing market, short sales are commonplace. Lenders will typically forgive deficiency balances. If they do not, that amount enters the ARM process and can find its way to debt collectors.

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Executive Change: Weltman, Weinberg & Reis Co. Welcomes Dave Zbozen to Real Estate Default Group

15 September 2010

Texas AG Charges Home Loan Servicer With Violating Debt Collection Laws

31 August 2010

New York Collection Attorneys Secure Court Victory for Creditor

23 August 2010

National Mortgage Data on Delinquencies Fall for Second Straight Quarter

18 August 2010

Foreclosure Activity Increases 4 Percent in July

12 August 2010

75 Percent of Top Metro Areas Post Increasing Foreclosure Activity in First Half of 2010

29 July 2010

S&P/Experian Index Confirms Declining Trend of Default Rates

21 July 2010

Banks Forced to Repossess Homes Despite Collection Efforts

16 July 2010

1.65 Million U.S. Properties Receive Foreclosure Filings in First Half of 2010

15 July 2010

Strategic Defaults Remain High, But Relief May be in Sight

29 June 2010

Ocwen Continues as Mortgage Modification Leader in Federal HAMP Program

25 June 2010

National Creditor?s Connection Establishes New Short Sales Desk

21 June 2010

Foreclosure Activity Decreases 3 Percent in May: Realtytrac

10 June 2010

Countrywide/Bank of America Will Pay $108 Million for Overcharging Struggling Homeowners

8 June 2010

First Quarter Credit Card Charge-offs Increase, Delinquencies Decline: Fed

8 June 2010

Executive Changes: Zenta Announces Additional Client Management Executives

4 June 2010

59 Percent of Homeowners With a Mortgage Would Not Consider Walking Away From Their Home

27 May 2010

Green River Capital Launches Short Sale Provider; Gets Licensed as Debt Collector

26 May 2010

Quantum Servicing Receives ?Best Practices Award? for Contact Center Technology from Noble Systems

19 May 2010

Consumer Credit Defaults in Autos and Mortgages Drop; Defaults in Bank Cards Accelerate

19 May 2010

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