Posted on: 07th Sep, 2010 08:03 pm
Hi. I currently owe $170K on my 1st, and $306K on my Equity Line (2nd). My house is worth $380K. My 1st is IndyMac, my 2nd JP Chase. IndyMac refuses to modify for me. JPChase offered to modify but the payment is still more that I can afford. JPChase told me that I have 48 hours to accept or decline their offer. If I decline, they will Charge off the $306K. Then, it is off to Collections. Can Chase foreclose on me? Or is the charge off their way of giving up on me. Further, if I negotiate with the collection agency and pay them off, will the lien be removed from my home?
Your query has been replied to in the given page:
http://www.mortgagefit.com/know-how/secondloanchargeoff-15.html#181104
Take a look at it. Hope it helps you.
http://www.mortgagefit.com/know-how/secondloanchargeoff-15.html#181104
Take a look at it. Hope it helps you.