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SHOULD I TAKE WELLS FARGO OFFER OF 20 CENTS ON THE DOLLAR FOR MY HELOC

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Guest	Posted: Wed Apr 21, 2010 1:21 pm    Post subject: SHOULD I TAKE WELLS FARGO OFFER OF 20 CENTS ON THE DOLLAR FO Like 0 Dislike 0 The house is in fl and is any day from being foreclosed on by the ist. the second a heloc by wells fargo has offered to settle for 20 cents on the dollar and i think i should take it, any input would be appreciated RA
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed Apr 21, 2010 10:52 pm    Post subject: Like 0 Dislike 0 Hi Guest, In my opinion, it would be a good option to settle the second mortgage dues for 20 cents on the dollar. As far as your first loan is concerned, you should contact your lender and apply for a deed in lieu of foreclosure. This will help you in getting rid of the property and you won't be responsible for paying off the deficient balance resulting from the sale of the property. _________________ Procrastination is the enemy of your financial success

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