vaca005,
Welcome to the forum and thank you for joining.................
The letter looks good although they would not be willing to just wipe away a second, but may be able to modify it..............investors are not willing to do principal reductions............
For a modification they are working to make the payment on the first lien alone including principal, interest, taxes, and homeowner's insurance to 31% of gross income..............and when approved for the modification under these guidelines they will work on the second lien after that as a part of the program.............
The steps to take and the information needed along with the contact number can be found here.................
https://www.chase.com/chf/mortgage/hrm_steps