Suntrust/Countrywide and short sale
Date: Thu, 08/07/2008 - 19:24
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%.