Loan Modification Forum - LoanSafe.org - View Single Post - Bank of America

dublinwayne · 01-23-2009, 10:53 AM

Hi ShortinPA

We actually are in Recovery Dept as we speak. We got there via keeping the first current and not paying the second for 10 months. They will agree to 50% of the $500K... but that's just too big of a number for us. We're hoping that once the 1st forecloses and sets the court date that the second will be more flexible.

Or that they or a collection agency will be able to negotiate something better than $250K.

01-23-2009, 10:53 AM	#13 (permalink)
dublinwayne Member Join Date: Jan 2009 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Bank of America - Short sale with collectible Debt Hi ShortinPA We actually are in Recovery Dept as we speak. We got there via keeping the first current and not paying the second for 10 months. They will agree to 50% of the $500K... but that's just too big of a number for us. We're hoping that once the 1st forecloses and sets the court date that the second will be more flexible. Or that they or a collection agency will be able to negotiate something better than $250K.