My question involves a foreclosure in the State of: Arizona.
I have undergone foreclosure in the state of Arizona back in August 2008. They were original loans from one company, Ocwen Loans. They held both the 1st and 2nd mortgage. After the home was forclosed the 1st mortgage was cleared. But the 2nd mortgage is not cleared. I received a letter from the debt collection agency about the 2nd mortgage, so I called them to see why am I still responsible for it even after the foreclosure. Now, I called the debt collection agency, and they told me I had to pay the full amount or settle to pay a partial amount, because in my state it is treated as an unpaid debt, they told me just like a credit card debt. What am I supposed to do? Do I have to pay the debt collection agency?