I have my 1st loan modified already about a year ago and have been current

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I have my 1st loan modified already about a year ago and have been current

I have my 1st loan modified already about a year ago and have been current paying lender but my second was charged off by B of A and a collection company bought it a few months ago. They offered me $15k on a $120k loan to settle in full but wanted the $15k in full on the spot in order to accept. I let them know I could not do that due to financial reasons and needed a payment plan which they refused and threatened me that they will foreclose on my home! What should I do? Thanks

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Anonymous (not verified)
21-01-2011

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Hi Guest! Welcome to forums! If you don't pay the debt, then the lender/collection agency has the rights to foreclose your property. You should somehow try to negotiate with them so that they can offer you a payment plan to pay off the debt. In case you cannot deal with them on your own, you can take the help of an attorney who can help you in negotiating with your lender. Feel free to ask if you've further queries. Sussane

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smith.sussane | Asked on 2011-11-02

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