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First Mortgage Charged Off

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bethtrent Joined: 10 Mar 2010 Posts: 1 1.26 Dollars($)	Posted: Wed Mar 10, 2010 9:12 am    Post subject: First Mortgage Charged Off Like 0 Dislike 0 Our first mortgage was charged off, no foreclosure, no bankruptcy, now they are wanting a settlement but we cant refinance with anyone. What do we do? Our mortgage was with HFC
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Wed Mar 10, 2010 11:18 pm    Post subject: Like 0 Dislike 0 Hi bethtrent! Welcome to forums! You won't be able to refinance the loan as it has been charged off by the lender. Moreover, the lender must have charged off the loan as you were delinquent on it. Thus, even though you negotiate with your lender to call back the account from collections, you will not be able to refinance it unless you clear the delinquent account. You can try for a settlement with your collection agency. You should inform them about the hardship that you are facing and request for a affordable payment plan to pay off the debt. Feel free to ask if you've further queries. Sussane

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