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mtruax33 · Joined: 02 Jul 2010 Posts: 2 1.79 Dollars($)

I own a condo in CA. I owe total 320,000 (257,000 on first and 62,000 on 2nd). and it's current value is about 130,000. I have two questions.

1) Is anyone aware of a bank actually reducing the principle?

2) What is likely to happen with my second since it seems that no matter what (loan mod, short sale or foreclosure) they are not going to get paid.

jerry · Posted: Fri Jul 09, 2010 3:24 am Post subject:

Hi mtruax,

Your query has been answered in the given page:
http://www.mortgagefit.com/problems/modification-deedinlieu-risk.html

Take a look at it. Hope it helps you.

Thanks,

Jerry

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