Posted on: 10th Apr, 2010 01:55 pm
hi everyone;
i filed chapter 7 bk and did not reaffirm my second mortgage (i checked the "surrendered" box) because the house value will barely cover the first mortgage. (the second is basically an unsecured loan). for the first mortgage, i checked the "retained" box and the "other" box and wrote: "debtor will retain collateral and continue to make payments." i actually just received a workout with b of a on my first mortgage and have been paying as agreed. my bankruptcy was fully discharged on 4/2 which means my personal liability to pay the second has been removed. green tree holds the second and has been calling non stop. i sent them a cease and desist and told them to reach me by mail. what should i do? will they foreclose when the 1st leinholder is underwater also? they will not receive anything if they foreclose.
second is approx $90k.
help?
ed
i filed chapter 7 bk and did not reaffirm my second mortgage (i checked the "surrendered" box) because the house value will barely cover the first mortgage. (the second is basically an unsecured loan). for the first mortgage, i checked the "retained" box and the "other" box and wrote: "debtor will retain collateral and continue to make payments." i actually just received a workout with b of a on my first mortgage and have been paying as agreed. my bankruptcy was fully discharged on 4/2 which means my personal liability to pay the second has been removed. green tree holds the second and has been calling non stop. i sent them a cease and desist and told them to reach me by mail. what should i do? will they foreclose when the 1st leinholder is underwater also? they will not receive anything if they foreclose.
second is approx $90k.
help?
ed
Your query has been replied to in the given page:
http://www.mortgagefit.com/second/mtg-chargeoff-11.html
Take a look at it. I hope it'll help you.
http://www.mortgagefit.com/second/mtg-chargeoff-11.html
Take a look at it. I hope it'll help you.