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OWE116K & bank wants 24K to Settle. What do I do?

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gatorJV Guest	Posted: Thu Oct 29, 2009 2:41 pm    Post subject: OWE116K & bank wants 24K to Settle. What do I do? The bank wants to settle on 24 K and i owe 116K as a result of a short sale. I was left with the 116K balance. Is this a good deal. How do i pay? should i pay 50 % and make no interest payments ? What do i Do? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 3738 Location: Alaska 561.45 Dollars($)	Posted: Thu Oct 29, 2009 9:00 pm    Post subject: Hi gatorJV! Welcome to forums! The bank wants to settle the $116k for $24k - It's a good deal in my opinion and you should go for it. As far as the payments are concerned, you should request the lender to give you a payment plan. This may help afford you to repay the balance amount. Feel free to ask if you've further queries. Sussane

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