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upside down mortgages
I filed a chapter 7 two weeks ago to stop Wells' foreclosure sale. We
will convert to chapter 13 if his income goes up enough to pay the
mortgage. Wells filed a Motion for Relief about a week after the 7
was filed.
>
>
> What's been the experience of anyone when the same bank - Wells
Fargo - holds both the 1st and the 2nd? Clients are current on the
1st, trying to renegotiate with Wells Fargo on the 2nd and can't
qualify for a Ch 13. They may just have to let the 2nd go. Is Wells
likely to foreclose on the 2nd? The house isn't even worth the 1st
but they don't want to loose it.
> Thanks,
> Vicki
>
The post was migrated from Yahoo.
What's been the experience of anyone when the same bank - Wells Fargo - holds both the 1st and the 2nd? Clients are current on the 1st, trying to renegotiate with Wells Fargo on the 2nd and can't qualify for a Ch 13. They may just have to let the 2nd go. Is Wells likely to foreclose on the 2nd? The house isn't even worth the 1st but they don't want to loose it.
Thanks,
Vicki
What's been the experience of anyone when the same bank - Wells Fargo - holds both the 1st and the 2nd? Clients are current on the 1st, trying to renegotiate with Wells Fargo on the 2nd and can't qualify for a Ch 13. They may just have to let the 2nd go. Is Wells likely to foreclose on the 2nd? The house isn't even worth the 1st but they don't want to loose it.
Thanks,
Vicki
The post was migrated from Yahoo.