Just sent a letter to WF

[Lajazz947]

To Whom It May Concern:

I am writing this letter to explain my unfortunate set of circumstances that have caused us to begin to become delinquent on our 2nd mortgage. We have done everything in our power to make ends meet but unfortunately we have fallen short and would like you to consider working with us to settle our loan in full.

As I am sure you are aware, we have been discharged in Chapter 7 bankruptcy and are free to just walk away from this obligation.

I also have back taxes and a student loan that have to be paid. Due to an interrruption in income I had to use retirement funds in 2008 as well.

At this time, I am writing to you to see if we can settle this HELOC loan for 10% to be paid in full within 60 months without interest. We have the means to obtain this amount of our settlement offer now. Obviously if we were to just foreclose, your chances of receiving any payment at all is bleak at most due to the fact that the 1st is barely covering the home value.

We would appreciate your consideration to accept our proposal for settlement.

Sincerely,

I just sent my letter to WF today. I offered $5000 payable over 60 months with no interest on a $50,000 HELOC.

I know, I know but what do I have to lose? They are pretty much unsecured anyway.

Waiting to deal with Wachovia on my 1st. I will keep you all posted.