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First of, what a great forum! Here's my story. Just foreclosed 2 months ago on my home that had a first mortgage and a HELOC with Wells Fargo. Both banks agreed to foreclose and first mortgage wrote off the difference from what they received at closing and WF HELOC received $5,000 at closing but that didn't forgive the balance of $95K. Now they want me to pay in one lump sum 30% of balance($28,544) which I obviously can't do! If I had the $$ I would be paying on the loan. This is the first "settlement offer" letter I have received. Any advice would be appreciated. I live in MD.




I'm sorry, I miss typed. All this reading about others foreclosures and I typed wrong. I had a SHORT SALE not a foreclosure. Sorry for the confusion.

Sub: #1 posted on Fri, 10/01/2010 - 14:39

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I settled my wf heloc for 20% with 5 monthly payments of roughly 1% and a lump sum of 15% of the heloc balance.

Sub: #2 posted on Sat, 10/23/2010 - 19:12

dantheman dantheman
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What ever came of this "settlement"? I am in a similar situation with WF..thanks.

Sub: #3 posted on Mon, 01/17/2011 - 12:18

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Look over in the debt settlement forum and search it out. More info there.

Sub: #4 posted on Mon, 01/17/2011 - 18:52

dantheman dantheman
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