Considering staying in my house after receiving a letter from Chase.

[capamando]

Hello,

My wife and I are waiting for our discharge and as I have mentioned before we did not reaffirmed our first nor our second mortgage. I received a letter/account statement from Chase where they specifically state that the notice is for informational purpose, not an attempt to collect a debt. Chase also included an Bankruptcy Customer Care Phone # in case I want to call them. By the way, neither lender has begun the foreclosure process, well, I have not seen a LIS PENDENS filing on the courthouse records. Are they trying to negotiate? Maybe not but we would consider staying in our house and paying again if we can come to a agreement with Chase but are not willing nor able to pay on our equity line with the other bank. Our house is probably worth 20k less than what it is owed on our first mortgage with Chase plus another 64k on our second mortgage with another bank. Would contacting Chase on this matter affect my discharge? Is there any point in working something out with Chase ? Will they want me to reaffirm the loan? Would the holder of the second mortgage pursue to foreclosed on our house even though they don't a chance to recoup their money?

Please share your perspective.. Thanks

[tobee43]

chase contacted us AFTER our discharge and attempted to state WE re-opened our loan mod...(we had waited well over a year for an answer prior to our bk from them without a word)....

so, you can imagine how shocked we were to have had them call.....of course, by this type we had moved 1800 miles away and i had to crack up when the person from chase asked what did we intend to do with our house...i said..excuse me? what is it about the word "surrendered" that you don't get.

apparently, it's becoming more common for the banks to attempt to work out something once they realize they have enough inventory in your area to house half of china.

best of luck, and if i were you, i would stay as long as possible to save up some money!