Settling a 2nd - Timeline?

[2manybills]

Albacore-I'm interested to see how you do on this. We closed in December, but have still been making 2nd mortgage payments. My 2nd is with Wells, and I was going to start talking to them now after discharge. We took about 118 days after filing to discharge because we are so backed up here in So. Cal.

I'll keep you posted how I do with Wells and let me know how you do.

[hope2retire]

I'm following right behind you all, my 2nd is with Wells and I stopped making the payments this month. My BK closed last month. I owe about $45,000, I guess, I haven't gotten a statement from them in a year, and am hoping to settle for 10%. If anyone figures out who to call could you post it? Thanks

[liboton21]

My BK will close this month both of my 1st and 2nd are with BoA, will they foreclose if I stop paying 2nd prior to settlement?

[2manybills]

Wells Fargo Contact Info

This morning I contacted the Wells Fargo Bankruptcy Department. The gentlemen I spoke with gave me a fax number to send in a letter to which is (866) 306-8279. He said make your offer of settlement in that letter and if the bank accepts it, you have 30 days to make payment. I asked if they countered, and he said no, but if they deny your offer, you can always reoffer a different amount.

He said to explain your circumstances, the declining market, etc., etc. Hope this helps some of you Wells folks. I'll keep posting on my progress.