Do most banks write-off 2nd?

[CCCrazy]

Hello, it's me again wondering and stressing about my 2nd mortgage. As background my 1st is upside down by about 18K and my 2nd adds another 42K on top of that. I stopped paying two payments ago and I am trying to settle with Wells Fargo while I continue to pay my first on time - both are with WF. I was discharged in Chpt. 7 on June 30. If WF doesn't settle will they eventually write it off and sell it to a junk bond dealer? And if that happens, does that mean I'm done with Wells until I sell the house? Could they hold on to the loan for a few years until there's equity and then foreclose? I'm just trying to figure out what all the possible scenarios could be - thanks for your help.