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2nd Mortgage - Settlement Offer

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steph Guest	Posted: Wed Jan 19, 2011 12:05 pm    Post subject: Like 0 Dislike 0 I have a 2nd mortgage around 50K it is the with the same mortgager as my first. Though they modified the 1st as an investment property, what would be an acceptable settlement offer for the 2nd I can't afford to pay both mortgages with the rent i'm receiving in this economy.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Jan 19, 2011 10:27 pm    Post subject: Like 0 Dislike 0 Hi steph! Welcome to forums! While settling your dues with your second lender, you should offer such an amount which you will be able to pay off. There are chances that the lender will not be ready to accept it but you will have to negotiate with the lender so that he accepts it. Feel free to ask if you've further queries. Sussane
JC337 Guest	Posted: Fri Dec 02, 2011 4:13 pm    Post subject: Like 0 Dislike 0 I settled a second mortgage I had with RTR for 10% of the total amount owed. They were a pain in the butt to deal with but it ended up being worth it.
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Mon Dec 19, 2011 2:11 am    Post subject: Like 0 Dislike 0 Welcome JC, Thanks for sharing your experience with us!! _________________ Procrastination is the enemy of your financial success

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