Posted on: 05th Feb, 2010 09:21 pm
did work with wellsfargo to do loan mod since march 2009. got temp 3 months forbearance program for the 1st. after that go back to orignal amount and the credit score got screwed since it showed late payments. i did stop making payments since january this year. 2nd loan with wellsfargo too, started with the first then got refinance twice ( not sure if this is line of credit or what now). did stop making payment this february. as for credit cards stopped this months (feb) too. what is my chances to keep the house and strip the 2nd and the credit card bills? chapter 7 or 13.
if there is no equity in your property, then you may be able to strip off your second mortgage if you file chapter 13. to know more regarding chapter 13 lien stripping, check out the given page:
http://www.mortgagefit.com/bankruptcy/chapter13-lienstripping.html
http://www.mortgagefit.com/bankruptcy/chapter13-lienstripping.html