indeminty policygreenspun.com : LUSENET : Repossession : One Thread
having my house repossesed in 1987 by the courts there was a small shortfall between the mortgage and the sale value.having paid an indemnity fee i this covered it,but now the insurance company is chasing me for the amount plus interest.how long can they keep pusuing this claim legally?
-- victoria cork (email@example.com), September 11, 1999
As far as I know, they only have six years. Check the Who Helps? section of the site for more sources of PROPER advice (I'm just another repossessee).
There is some question that they can claim any of the amount legally but as it remains in question I wouldn't rely on it as a srouce of comfort. What I would do is read the site very carefully, especially the Do's and Don'ts section and the other repossessees letters and try to get a feel for what helps and why.
Hope this helps
-- Lee (firstname.lastname@example.org), September 11, 1999.