2nd Mortgage Charge Off

[Overmylimit]

I finally filed Jan 25th. I am current on my 1st (modification was approved on the 23rd, talk about close!) and I haven't paid on my 2nd for a year since the home is underwater. I have a credit monitoring service and it notifies me when there is a change, it did a few days ago and it was the BK being filed. However I also saw my 2nd had charged off, what if anything does that do to the Chp 7?

[iv65536]

Apparently they have decided to book it as bad debt, but the lien is still there.

[albacore44]

haha, I was wondering about you. You think we waited long enough ?? I filed on the 23rd.

[2manybills]

Glad to see you filed Albacore!

As for the charge off that just means that your 2nd charged the account off probably because they couldn't foreclose in lieu of property values, etc.

[albacore44]

Glad to see you filed Albacore!

As for the charge off that just means that your 2nd charged the account off probably because they couldn't foreclose in lieu of property values, etc.

God, I hope mine charges off too. that would music to my ears

[2manybills]

My doesn't show that on my credit report. It just shows balance due $0. Chapter 7 Bankruptcy. Then no recording of payments even though I've been paying this and my first.

Of course, BofA showed 90 days late, 120 days late, etc. I'm in process of clearning up credit report right now. I would love to negotiate with the 2nd mortgage.

[Overmylimit]

Albacore, I was wondering about you too! Glad to see were gettin there lol I know I have been ready to file and had a Lawyer for like over a year>>

I know the lien survives, I'm just wondering if they are going to sell it to a CA, if so does that change the lien?

[HHM]

I finally filed Jan 25th. I am current on my 1st (modification was approved on the 23rd, talk about close!) and I haven't paid on my 2nd for a year since the home is underwater. I have a credit monitoring service and it notifies me when there is a change, it did a few days ago and it was the BK being filed. However I also saw my 2nd had charged off, what if anything does that do to the Chp 7?

Nothing.