About 1.5 years ago, my 2nd w/ chase was charged off. It was for about 60k at the time and I was behind 6 months with the payments and 9 months on my 1st.
3 months later they made an offer for 15% or 9k. Following the advice for settling 2nd, I didn't accept and countered w/ 5-10% and they declined. They claimed they would get more in a shortsale and I said I'd never shortsale the home, but they didn't care. They tried to threaten me that if I didn't accept it would go to 20%.
Now over a year later, I've had no contact from them and my home value has risen and I think I'm about to put in a trial on my 1st.
Should I contact them now or wait till my loan is permanently modified? Recent home value increasing in my area now put me at positive equity (albeit only maybe 10-15k), so I think my position may be worse.
My concern is if If my modification is made permanent and I get what I think they are offering, they will have easily more than 60k equity and they ask for more than the 15% or 20% they offered.