I have been discharged from a chapter 7 since 7/2010 and did not reafirm my first or second mortgage. My first has been paid on time but I have not paid the second since 8/2011. My home value is $109K and my first mortgage balance is $110 and my second mortgage balance is $41K. Today I recieved a letter from WF today stating;
Due to inactivity, continued default and a lack of equity or monetary gain associated with the above loan-referenced loan, the loan was charged off. You may recieve an IRS 1099-C.