Are you so underwater in your total mortgage obligations you are considering walking away from your home? Can’t get a decent home loan restructuring from your bank due to a second mortgage? There may be a way out – if you are willing to undergo the drastic step of filing a Chapter 7 bankruptcy. During [...]
Entries Tagged as 'second mortgage'
You Can Use Bankruptcy To Void a Second Mortgage
May 10th, 2011 · No Comments · Bankruptcy
Tags: Bankruptcy·Chapter 13·Chapter 7·Chapter 7 bankruptcy·first mortgage·petition court·second mortgage
Real Life Debt Settlements
June 8th, 2010 · 2 Comments · Debt Settlement
Feeling discouraged about credit card or mortgage debt? I have some good news for you. I’ve been talking with a reader about their debt situation over the last year and was pleasantly surprised to see this letter regarding the progress being made. I just thought I would publish it as an example of what can [...]
Tags: Credit card debt·Credit Cards·Debt Settlement·find debt settlement company·loan principal·Mortgage·negotiation·real world·second mortgage
Defaulted on Second Mortgage but Still Paying My First
April 7th, 2010 · 10 Comments · Mortgages
Q. Our 2nd mortgage (originally with Citibank) was $96k when we stopped paying on it 9 months ago. We continue to pay on our 1st mortgage after doing a modification but with the 2nd mortgage and needed improvements our house is over $100k underwater. Citi sold the 2nd mortgage to a collection comp called Penncro [...]
Tags: collection agency·Credit card debt·Debt Settlement·Debt Validation·lump sum payment·negotiating strategy·payment plan·Pencro·second mortgage
Debts and Finances Forcing Us to Move Out of Country
October 19th, 2009 · 3 Comments · Banking, Debt Collection, Debt Settlement, Mortgages
Q. This past summer we completed a short sale on our home. There was a first and second mortgage holder, and the first mortgage holder (major financial institution) assumed the second during the final negotiations. It was our assumption all debt was satisfied (and you know what you get when you assume). Since the time [...]
Tags: debts·finances·foreclosure·Out of Country·relocate·second mortgage·short sales·statutue of limitations·tolling
