It has sold 2-3x and all ccommunication has stopped. Should I get a lawyer to settle it?
Two questions here, really. First is whether the loan will disappear from your credit report after 7 years. Hard to say on that, would be interesting to know the last time it reported. The bigger question is whether they have a lien against your property, which they more than likely do. If that's the case (you can find out with a simple title search), you won't be able to sell or refinance the home without paying off or at least settling that lien. Might not hurt to speak with a local real estate attorney about it. Can say that your situation is different from straight consumer debt in that it almost certainly involves a lien against your home, and that won't go away by itself, whether or not you are getting statements or paying the second mortgage. Hope that helps! Ted