Posted on: 17th Jul, 2010 01:04 pm
Our 2nd mortgage is charged off. The lender told me that they would work with us but cannot go out over several years. Our credit is ruined because of falling behind on this loan. It was adjustable and the payment went way up. I want to do something to get it paid but cannot afford to pay 65,000 dollars. I do not want to file for BK. We are current on the 1st. Does anyone know of options?
You'll have to contact the collection agency and settle the dues with them. You need to let them know about your financial hardship and negotiate with them for an affordable payment plan which will help you in paying off the dues in full.