I'm so thankful for these forums! After many months, our 1st mort was finally modified (WF) in house. We have a 2nd HELOAN (not HELOC) with Chase, completely under water. I've read the other posts regarding how to settle them but still have questions. I'll start with the basics:
1st Mort - $365k (WF in house mod 5/12)
2nd Mort - HELOAN $38k Chase
Home Value - approx $340k
2nd HELOAN was to pay off cc debts, they paid them off directly, no funds given to us directly. Currently behind by 1/2 a payment. 2nd is in my husbands name only. Do I follow the same strategies posted as if this was a HELOC? Not sure how to proceed...just ignore & attempt to settle? Thanks so much.