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jhn_plsn · 06-11-2009, 05:50 PM

I do hope you guys are correct as I have a heloc I have not made a payment on since December. They call twice a week but never have anything to offer me. Do I need to instigate by making an offer first. I tell them the house is only worth about 200,000 and my 1st is 316,000 but they have yet to come up with an offer. I suppose the collector that calls does not have the ability to make any offers.

So I was thinking of starting at 3% of the ballance paid over 2 years at 0% interest. If they agree to even a 10% offer over 3 years at 0% my payment would only be 258 instead of 600 and I would have a realistic outlook on my housing situation. To me anyway.

06-11-2009, 05:50 PM	#8 (permalink)
jhn_plsn Senior Member Join Date: Apr 2008 Location: Riverside, Ca Posts: 136 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: CW/BofA Settling HELOCs and 2nds???? I do hope you guys are correct as I have a heloc I have not made a payment on since December. They call twice a week but never have anything to offer me. Do I need to instigate by making an offer first. I tell them the house is only worth about 200,000 and my 1st is 316,000 but they have yet to come up with an offer. I suppose the collector that calls does not have the ability to make any offers. So I was thinking of starting at 3% of the ballance paid over 2 years at 0% interest. If they agree to even a 10% offer over 3 years at 0% my payment would only be 258 instead of 600 and I would have a realistic outlook on my housing situation. To me anyway. __________________ *John, Upside down big time.* *1st modified again=USBank, 3% for 5yrs, 4.95 cap for the life of the loan(no principle write down but a stable solution)* *2nd(heloc)=BofA offered three month trial at 1/3 the payment. We'll see.*