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NeedHelpwCW · 06-16-2009, 12:09 PM

I told them that I forsee myself not being able to afford this and that foreclosure was the other solution if it was not settled. It took me a long time to find the right people to speak to... it was a lot of phone calls and endless waiting on the phones. Many of them don't know what they are doing. I just got lucky!

They sent a broker to my house to evaluate the property's value. Apparently, that satisfied their review for a settlement. Remember that they are in second position. So, if the house foreclosed, they do not get anything at all since I am upside down. My 1st is more than the value of the property.

06-16-2009, 12:09 PM	#22 (permalink)
NeedHelpwCW Senior Member Join Date: Dec 2008 Location: California Posts: 173 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: CW/BofA Settling HELOCs and 2nds???? I told them that I forsee myself not being able to afford this and that foreclosure was the other solution if it was not settled. It took me a long time to find the right people to speak to... it was a lot of phone calls and endless waiting on the phones. Many of them don't know what they are doing. I just got lucky! They sent a broker to my house to evaluate the property's value. Apparently, that satisfied their review for a settlement. Remember that they are in second position. So, if the house foreclosed, they do not get anything at all since I am upside down. My 1st is more than the value of the property.