Ditech sale

kellyaw

LoanSafe Member
Mar 17, 2013
22
3
3
Second mortgage was sold to Ditech as a chargeoff. I send them a small amount every month and after 7 years it finally dropped off my credit report. Still owe them about $40,000 and I am current on my first mortgage with very little equity. My question is, now that Ditech is being sold because they are in bankruptcy, can the new company start the 7 year clock over ?
 

Jzone

LoanSafe Member
Jun 20, 2017
158
19
18
69
I doubt the clock ever stopped. In most collection cases, the clock starts running when you make your last payment. If you have continued to make payments for the last 7 year, it's whenever your last payment was.