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2ND MORT. SETTLEMENT OFFER

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H Guest	Posted: Mon Jan 24, 2011 10:07 pm    Post subject: 2ND MORT. SETTLEMENT OFFER Like 0 Dislike 0 I JUST FINISHED CHAP 13 AND WANT TO TRY AND OFFER SETTLEMENT OFFER TO 2ND MORTG.COMPANY. I OWE 70,000 BALANCE AGAINST 80,000 ORIG.NOTE.I PAID 93,000 SO FAR OVER 8 YEARS. I'VE READ SOME PEOPLE HAVE GOTTEN COMPANY'S TO ACCEPT AS LOW AS 5-10% OF BALANCE IN HARDSHIP CASES LIKE MINE.I WAS THINKING OF OFFERING LIKE 9,OOO. DOES ANYONE HAVE ADVICE OR INFO TO HELP ME? I AM PLANNING TO TRY, AS SOON AS I GET MY DISCHARGE PAPERS FROM COURT NEXT MONTH.
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Tue Jan 25, 2011 1:59 am    Post subject: Like 0 Dislike 0 Hi H, You should always try and negotiate with your lender so that he is convinced to accept your request. If you're facing severe financial hardship, there are high chances that the lender will consider your request and accept the settlement that you've offered him. Thanks, Jerry

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