2nd mortgage? Does it still exist?

midnight

Member

Bankruptcy Newbie

Joined: Apr 2009

Posts: 71

State: Indiana
#16

10-07-2010, 01:18 PM

Reviving this because I'm still considering what to do. Don't have much cash on hand. But if you offer to settle, you have to pay the whole amount upfront in cash usually, correct???
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ccsjoe

Senior Member

Bankruptcy Tutor

Joined: Jul 2010

Posts: 1685

State: California
#17

10-07-2010, 01:20 PM

Correct. A settlement offer, if accepted, is lump sum.

Stopped paying: 08/10, Filed CH7: 08/27/10 , 341 & No Asset Report: 10/6/10, Last day to object: 12/06/10, Discharged: 12/07/10, Closed: 12/08/10
AHEM.....NOT AN ATTORNEY, NOT ADVICE, ETC, ETC
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IBroke

Senior Member

Bankruptcy Tutor

Joined: Feb 2009

Posts: 1641

State: Florida
#18

10-07-2010, 01:26 PM

Originally posted by jtindisguise View Post

Good info. Thanks. BofA has made no attempt at collecting....

..and that's because you didn't reaffirm. They simply aren't allowed to attempt to collect.

Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.
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