What does it mean to have a charged off mortgage in a foreclosure proceeding?

When a debt is "charged off," regardless of whether it is a mortgage or some other debt (for example, a credit card balance), this is normally not a waiver of the creditor's right to sue on the balance owed. It is possible that the mortgage company felt that the cost of proceeding with the foreclosure compared with the likely amount that could be realized from the foreclosure sale made it impractical to proceed. In order to advise you as to your specific rights and options, I would need more information, including copies of all of the documents and correspondence. If you would like to talk further, please feel free to call or e-mail me.