Bank of America cancels my second mortgage!!!

[bn7]

For those who have replied to my threads,

We received a letter from BofA stating that our second mortgage will be basically wiped out. We basically filed for CH. 13 to get rid of our second mortgage, I contacted our attorney who advised us that we should be converting our current CH. 13 case into a CH. 7 since we will NO longer be liable for this second mortgage with BofA! We will be filling for this next week and will NO longer have to make trustee payments .

This worked out nicely in our favor, we have to come up with the attorney fees however we will save a few thousand dollars in the long run! I hope there are others out there that are as lucky as us. For those still under a CH. 13 hang in there and be strong!

Has anyone else received a letter like this? not just from BofA but from any other bank, regarding second mortgages? I will keep posting the progress of my case too!

[spidge]

Good for you. Did you get the initial letter or did your attorney? Did you call the DOJ number to inquire?

[despritfreya]

This is part of the national settlement entered into between the DOJ and numerous servicers/lenders, BOA being one of them. We will be seeing more and more such letters which will result in more and more conversions to 7.

Des.

[flowerchild]

Congrats to you bn7

[bn7]

I got the letter directly from BofA, I sent a copy over to my attorney for review who then advised us to simply convert our case over to a CH. 7.