Finance Programs and Objectives

My guess is getting them to do anything with the second would be really good luck. If I walk away what would the possible ramifications be. Jun looming increases to subsidized federal student debt hawaii banks student loans could take a toll paid. My suggestion is that you next meet with a bankruptcy attorney so he or she can answer these questions for you. My 2nd mortgage lender is home loan settlement letter example Indymac/one west Bank. He or she may be able to negotiate on your behalf.

Our intent was to stay in the house until our last child graduates from high school in 2 years. How could I get a fixed rate on the second loan however. Maybe the house values will come back up a bit to give me zero balance.

The bankruptcy protects you since it has been discharged & your second was listed on chapter 7 discharge, so bank has no recourse (my mortgage statement on second now reads. HOW does one find out if i would be responsible for tax on that settlement. Thanks so much for the advice, I sincerely appreciate it. Improve your home with a remodeling project or two.

I owe 98,500 on my first and the BPO came in at 98,200 quite ironic. I would not recommend you do anything with the second until you have clarified with your attorney what the status is on the second. Thanks in advance for been so kind, God bless you. Honda com the official site for honda cars, motorcycles, personal watercraft,.

But if the second is totally underwater you may be able to negotiate a settlement, sell it in a short sale, or wipe it out in bankruptcy. My rationale is that if I can’t get the house refinanced at a lower rate – (because a lien is blocking me to do so) then – I could let the first take the house – at current market value – the first wouldn’t get enough to pay off the first so the second wouldn’t see a dime – I would think they would rather get something than nothing at all – with no recourse to come after me for the difficiency – since the actual debt would have been discharged. If I did not have the HELOC the numbers jive for a traditional sale.

IT too is held by B of A although the servicer is Greentree. The 2nd is not worth a thing…….what can I do. Can you please point me in the right direction to help me.

I believe it is important to find out whether your loan(s) are recourse or non-recourse. The value of the house is approximately $500k. If they won’t take what seems to be a pretty good short sale offer why would they agree to the latter. We don’t want to loose our house, but don’t know what is the best thing to do.

I had stopped making payments on both first and second mortgage for a while but when the first mortgage was up for foreclosure started making payments on first. You can always rebuild your credit later. Example of a mortgage loan settlement letter or contract. If you are able to do that then you will have the protection of the court home loan settlement letter example and you will not owe taxes on debt cancelled in the bankruptcy. We have a 1st ($110,000) and 2nd ($112,000) and our house is worth $121,000-145,000 depending on which tool I use. If you are in California or Arizona, you may want to check out a new program that may be able to help you get back to positive equity.

Our Realtor has sent the offer to the bank several times. What are your thoughts about trying a deed in lieu for the first mortgage and settling for some dollar amount (up to 10%) with the second. I’m so sorry to hear you were taken by a mortgage modification scam. I’m considering not making anymore payments until I get their full attention, but worry about them going after my wife.

Medical insurance won’t cover physical therapies or virtually anything. Bank of america, jpmorgan chase, chase bank cash advance on direct deposit payday loans, well that the. If I were you, I would meet with a bankruptcy attorney with this type of experience to find out what he/she thinks about the possibility of either stripping the second in bankruptcy and/or negotiating a settlement on the second. Due to many circumstances, at the end of the month there isn’t extra money at all and often I’m borrowing from next month to pay for the previous.

What is so upsetting is we have no other home loan settlement letter example debt-credit cards, cars, loans. Right now I’m applying for the mortgage assistance tool program to hopefully come to a fair settlement amount. Our house is in Whittier and worth about $262k according to Zillow. We are current on 1st which has been modified. Unfortunately, Tom, I have no idea whether the bank will be amenable to working with you. Latest isuzu philippines vehicles price list with links to individual webpages to.

What are my chances of settlement with BofA and for how much. Second, secure all your assets in trusts, etc… Third, file bankruptcy. If she’s personally liable, she may have home loan settlement letter example no choice but to help you find a solution. I stopped paying the mortgage on the investment property in june 2011, In Jan 2012 I rec’d NOD and am thinking about filing for bankruptsy to get rid of my credit card bills and the investment property, I soon will start the short sale though.

Got married in 2007, and refinanced in 2008 putting my husband on the the two loans but did not take any money out. I’d suggest you discuss your options with your bankruptcy attorney though the truth is he or she may not know what to expect either. We bought a house in CA in 2008 with a 80% 1st (Amtrust Bank) and a 20% second.

In fact, he’s seeing settlements as low as 10-15 cents on the dollar in some cases. I just settled for 25K on an apparent 80K second mortgage, which my now ex did without my knowledge. We had a foreclosure in May 06′ which puts as at 7 years exactly. It’s possible that if you continue to hold out, you may be able to get a better deal to settle the second.

Sep royal bank of scotland has agreed bankruptcy 500 to buy a roughly gbp million. I have been told that BofA would be foolish to foreclose on the 2nd since the 1st must be paid off with proceeds from the sale and the costs of foreclosure would make it even more costly to them. He keeps saying stay until they foreclose, but that home loan settlement letter example puts an adverse blemish on my credit again.

Anyway, the question is, why would the holder of the 2nd foreclose when it stands to lose money doing so. Chris, yes, it’s very common for the lender to ask for financial disclosures before approving a settlement below 20-25% on an underwater second. If they don’t settle we are going to have to make some very tough decisions soon. Serving los angeles santa ana, ca, commonwealth used car santa ana volkswagen is the best. The bankruptcy attorney should be able to fill you in on the foreclosure process in your state.

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