I found this wonderful forum back in 2010 and it helped lessen my stress! but now I need help and advise!we had our first with BofA (670,000) and second with PNC (170,000). we stopped paying on the first in 2009 after they told us to in order to qualify programs. As everyone now knows, that promised help never materialized! But because of the timing and the banks screw ups (MERS violations and in the middle of the robo signing discobery) it work out fantasic in the long run, we ended up getting an attorney and finally got a mod finalized jan 2012 with huge chunk of forgiveness, lower interest and the hamp perks. we are finally digging our selves out of our hole!Initially I kept paying the second with PNC because they were willing to work with us with temp programs at half payments with 1% interest. We stopped paying the 2nd in august 2010 after we had the loan doc reviewed and signing violations were found. I found this forum and applied the Strategies for Settling your Second. I just let it set (we couldn't afford payments any way soon enough because my husband lost his job, twice and I took a 15% pay cut). Sure enough, the low offers came in - as low as 20%! at one point I negoitated down below 10%, but like I said, we had no money ($150,000 in credit card debt, that I have since negotiated down to 50,000 and have paid off). and the debt was charged off and placed with various debt collectors - we are on the 4th one now>Now, today, when we have $8000 available (I thought that woudl be a good start) I called to start negotiations. After negotiating the credit cards and reading everything I can, I felt confident we could start our way to a successful conclusion. The debt is now with SRA Associates, we have recieved one letter back in March and then an occassional recorded phone call every 2-3 weeks. (I stopped answering my phone a couple of years ago). So, I called and was shocked at the complete unwillingness to discuss a settlement!! He said PNC is not taking any settlements if you are still in your home! When I informed him that they had offered me a settlement in the past, he was rude and adamant that settlement was not an option! I even spoke with an assistant director who said the same thing - is this true?? This isn't my first time negotiating but I was flabbergasted by the reception! I couldn't believe that they would even discuss a settlement! what happens now? Is this just one of the tactics or is PNC not allowing settlements? in the course of the conversation I mentiond that I know the debt has been sold several times, he said no, they are just an agent for PNC and PNC still owns it. I do not know where to go from here - do I still just wait it out ... hoping itll soon go to the next debt collector? Its been at SRA for 5 months. Did I just blow everything by initiating contact? I'm worried about our home value increasing. We are still under water - owe 550,000 on first and zillow values it at 464,000. any thoughts? Thanks!