Has anyone successfully settled a 2nd mortgage that is not completely under water?

[newphoenix]

I have recently lost my job and making the payments on the 2nd mortgage is difficult. My home is worth about $320,000 and I owe $305,000 on the first mortgage. I owe $98,000 on the second. I am late one month on the 2nd and they have called four times. I'm current on the first mortgage. Has anyone successfully negotiated a settlement on their 2nd mortgage when it wasn't completely under water? Any advice or tips? The 2nd is with U.S. Bank so if anyone has experience or contact numbers for them I would appreciate it.

Thanks!

[discouraged]

There was one a while ago. Can't remember when but if you use the search bar on top with that reference I'm sure you'll find it. If I remember correctly, they settled for very little on the dollar.

[LadyInTheRed]

There was one a while ago. Can't remember when but if you use the search bar on top with that reference I'm sure you'll find it. If I remember correctly, they settled for very little on the dollar.

I think it was in the last couple of months and that they settled for 10%. I believe they started by offerring a much lower amount and then the bank countered with 10%, but I might not remember it correctly.