Chase charged off my mortgage while I was in the proce

acemaverick_78 · Joined: 08 Jan 2010 Posts: 1 1.28 Dollars($)

I live in the state of new york. My bank (Chase) Has charged off my mortgage while I was in the process of being reviewed for a modification as my interest rate is 12.5%. I cannot afford to pay and my home is no longer worth anywhere near what I owe on it.. No equity can I file for chapter 7 and possibly keep my home?

jameshogg · Posted: Fri Jan 08, 2010 8:51 pm Post subject:

Hi acemaverick,

You can try and settle your mortgage with the collection agency to whom your loan has been charged off. If you can settle the dues with them or get a payment plan to pay off the loan, then you won't have to file bankruptcy. If they are not ready to negotiate with you, then you may think about filing Chapter 7. However, before doing so, I would suggest you to contact an attorney and take his opinion in this regard.

Thanks

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