Quoth EricKei
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As I think I mentioned earlier, I got caught up in the housing bubble of the 2000s. It was one of those "only 5% down with a first and second mortgage" deals. I had to walk away from it when the payments skyrocketed after the first few years as I was unemployed at the time.
Several years later, I had a collection agency start hounding me about the second mortgage. I told them that it was a "no recourse" loan, that it basically was no longer valid because I had defaulted on the first mortgage and the property was seized. When they tried to argue with this, I asked them for proof of the validity of the debt--basically, their copy of the original loan. They didn't have it. I did, and they told me to send it to them. (HAHAHAHAHA!!!!! Yes, let me give you a club so you can try to hit me with it!!)
What I sent them was a copy of part of the page that said it was a no-recourse loan. They stopped harassing me after that. I think they "forgot" to remove the hit on my credit report, so I contacted the Big Three agencies and did it for them.
If you ever do find yourself being contacted by a debt collector, remember to look up the Fair Debt Collection Practices Act, and remember that they have to prove that the debt is legitimate and is in fact your debt.
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