So BofA (formerly Countrywide) Home loans sends me

[walkthaplank]

"Right To Cure And Intent To Accelerate" letter on my 2nd mortgage that is completely unsecured and will be stripped in my CH13 filing later this month. I stopped paying them when I submitted the packet to my lawyer. Right now my 1st is under water by about $60k. I'm certain that this is all automatic form that the lender is sticking with, I just see it as good money after bad.

Will they step up collection activities or just keep making noise? So far it has been limited to past due statements and robo-calls.

[justbroke]

It's automatic, and unless and until you file... they'll continue their collection efforts. An acceleration only means that they are making the note due and payable immediately. It does not mean that they will enforce their right to cure, by foreclosure.

[gowiththeflo]

lien strip

what is a lien strip? Is it a way to get rid of my 2nd mortgage? and keep the first and the house?

[justbroke]

what is a lien strip? Is it a way to get rid of my 2nd mortgage? and keep the first and the house?

A lien strip is a way to get rid of a second mortgage, well, actually the lien (not the mortgage).

This is only available in a Chapter 13 and not all Districts and attorneys are up to speed on these either.