Posted on: 21st Apr, 2010 01:21 pm
The house is in fl and is any day from being foreclosed on by the ist. the second a heloc by wells fargo has offered to settle for 20 cents on the dollar and i think i should take it, any input would be appreciated
RA
RA
hi guest,
in my opinion, it would be a good option to settle the second mortgage dues for 20 cents on the dollar. as far as your first loan is concerned, you should contact your lender and apply for a deed in lieu of foreclosure. this will help you in getting rid of the property and you won't be responsible for paying off the deficient balance resulting from the sale of the property.
in my opinion, it would be a good option to settle the second mortgage dues for 20 cents on the dollar. as far as your first loan is concerned, you should contact your lender and apply for a deed in lieu of foreclosure. this will help you in getting rid of the property and you won't be responsible for paying off the deficient balance resulting from the sale of the property.