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About plplsunshine

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  1. Wow! well done! I really want to thank this forum from the bottom of my heart. I also followed the advices, did eactly what other members said and in less than 8 months I settled a 49K debt for 9K, all CCs with BofA - I am so happy and now can start over. NO MORE CREDIT CARDS TOUGH. SO NICE TO LIVE ON CASH ONLY AND SLEEP AT NIGHT!!! Thankyou all!!!!!
  2. which home warranty did you get? Sounds like a good one
  3. I am a broker and have been selling short sales for the last 3 years. My experience is that the second usually always settles to allow short sale. If they do not could be two reasons: 1- the original lender still owns the loan but send it to collection (so collection agency is not allow to settle for little) SOLUTION IF THIS IS THE CASE IS TO WAIT FOR 3 / 6 MONTHS, WHATEVER NEEDED TO get it out of collection and back to lender, then they will settle for short sale. I had to do this patiently 4 times and always worked. 2- the loan has been sold to these trying to collect, have them hold on few months with no result and at the end they will also settle. It usually gets approved after few months 99% of the times. The first will only allow 2 or 3K to second in short sale, so if the second wants more, usually no more than 10K to settle and let you sell - (and you have no cash to do that) you can ask the buyer to pout in the extra. This is how we make many short sale work now, overall if we negotiate hard for full forgivness, we have to be prepared to give something more to second. The trick here is to prepare buyers for it. Example, buyer is willing to pay 100K for propery, have them put in the offer at 90K, and have them sign an addenda that they might have to contribute up to 10K to secondary liens if needed to get short sale approved. Most of the time that works, as long as you prepare buyers upfront. This is my experience and I closed 37 short sales last 7 months. Use an agent who is VERY experienced in short sales and a professional mediator and you might be able to get the short sale done! Hope this helps P
  4. Thanks a lot for the advices! I will close all accounts first. you guys are great.
  5. Thanks for the advice. Why credit unions? I will check if any available in town, but maybe they do not serve small business. I was thinking to move my accounts to Regions. what risk would I incurr moving to another bank instead of a credit unions? Also, if you know, is it true that bank of america tends to sue for credit card collections rather than settle? Thanks again.
  6. I have 4 credit cards with bank of america which i decided to try to settle. I was told to stop monthly payments and then settle the debt with collection agency. But another friend told me that because my business account and two of my personal accounts are with the same bank of the credit cards (bank of america) - They will be able to take money from my accounts first to cover for my unpaid credit cards debts. Is this true? should I close all my banking accounts with bank of america and move them to another bank before stopping payments of my credit cards? (totaling about 60K) thanks!