Bank of American Home Loan settlement question
Date: Sat, 03/12/2011 - 12:55
Hello,
I have a $11,000 BoA Home Loan (2nd mortgage from a foreclosed investment property) still on my credit. It is listed on my credit report as "120 days past due", and is apparently not charged off. I haven't made a payment in about 2 years (small $45 payments).
I already settled large mortgage debts over the past 2 years, and this is the last one. Financial picture hasn't changed, I am a student, though, and I expect it to change eventually.
Thoughts? Recommendations? Will they settle? I have heard nothing from them; they keep sending me a monthly bill.
Thanks!
I have a $11,000 BoA Home Loan (2nd mortgage from a foreclosed investment property) still on my credit. It is listed on my credit report as "120 days past due", and is apparently not charged off. I haven't made a payment in about 2 years (small $45 payments).
I already settled large mortgage debts over the past 2 years, and this is the last one. Financial picture hasn't changed, I am a student, though, and I expect it to change eventually.
Thoughts? Recommendations? Will they settle? I have heard nothing from them; they keep sending me a monthly bill.
Thanks!
There's no harm in trying. You should contact the lender and neg
There's no harm in trying. You should contact the lender and negotiate for a settlement. If you can convince the lender about your financial hardship, then there is a high chance that the lender will be ready to settle the home loan with you.
Hi! Welcome to the forums! You should contact BOA and make a set
Hi!
Welcome to the forums!
You should contact BOA and make a settlement offer. Normally, they are quite easy to settle with. So, I don't think it will be very difficult for you. Make sure you make a reasonable settlement offer to the BOA. To know about how to settle debts on your own, check out the following article:
http://www.debtconsolidationcare.com/steps.html
