Suntrust/Countrywide and short sale
Date: Thu, 08/07/2008 - 19:24
Hi,
We can't afford...house...self employed...aren't...enough money...pay...mortgage...cc's.....put...house on ...market last May....hasn't sold....used ...cc's to get by....agent...specializes...short sales...working with countrywide & suntrust in order to short sale our house....50,000 below appraisal price ...no lookers...7 kids to house and feed, ...nervous...future.
We owed ...2900... to Advanta....offered to settle...$1629 ...lump sum payment ...stopped paying in March and just received ...accepted ...offer.
WAMU, a...check wamucanhelp, for ...offer. $500 balance - settled ...$269....other card - $4500 - settled...$2100. Both ...four payments. offers...going to give me 1099s.
Discover ...does not offer...discount on...principal...Anyone know?
BOA today ...12,000 on one card - $6000 ...and $5500 ..... waive late fees,... reduce interest rate to 4.5% ...payment plan for 60 months - 3 together come up to $400per month... ....... Anyone ...any experience ...? Will they accept lump settlement for less than...principal? ... more than 4 months? ... sue me?
Chase... nice.........call once a month....with them is $8k.
Lisa
[color=DarkRed]Post edited as it is a duplicate thread of http://www.debtconsolidationcare.com/settlement/about49607.html --- Jason[/color]
We can't afford...house...self employed...aren't...enough money...pay...mortgage...cc's.....put...house on ...market last May....hasn't sold....used ...cc's to get by....agent...specializes...short sales...working with countrywide & suntrust in order to short sale our house....50,000 below appraisal price ...no lookers...7 kids to house and feed, ...nervous...future.
We owed ...2900... to Advanta....offered to settle...$1629 ...lump sum payment ...stopped paying in March and just received ...accepted ...offer.
WAMU, a...check wamucanhelp, for ...offer. $500 balance - settled ...$269....other card - $4500 - settled...$2100. Both ...four payments. offers...going to give me 1099s.
Discover ...does not offer...discount on...principal...Anyone know?
BOA today ...12,000 on one card - $6000 ...and $5500 ..... waive late fees,... reduce interest rate to 4.5% ...payment plan for 60 months - 3 together come up to $400per month... ....... Anyone ...any experience ...? Will they accept lump settlement for less than...principal? ... more than 4 months? ... sue me?
Chase... nice.........call once a month....with them is $8k.
Lisa
[color=DarkRed]Post edited as it is a duplicate thread of http://www.debtconsolidationcare.com/settlement/about49607.html --- Jason[/color]
I have found out in our forum discussion that BOA generally sett
I have found out in our forum discussion that BOA generally settle debts at 20 to 30% less of the original debt amount. Please go through http://www.debtconsolidationcare.com/settlement/lowered-payments.html#327630 for more information.
From personal experience, Discover will likely settle for 70-80%
From personal experience, Discover will likely settle for 70-80% just before the 180 day CO. After that, it will go to collections but settlement may not be any lower and the amount on your account may trigger litigation. If SOL expires, they'll hit you with 30-35%.
