2nd, I have heard allot about 10%

[Lajazz947]

I should have my discharge shortly, maybe three weeksw or so I hope.

4 months behind on the 1st with Wachovia and they have said that they will modify as soon as they get my discharge notice.

My 2nd is with Wells fargo. No payments for about 5 months without a peep from them.

Home is probably about $730,000-$750,000. Owe $730,000 on 1st, $50,000 on 2nd total of $780,000.

I keep on hearing about negotiating for 10% on the 2nd. Is anyone having luck on this and are both my mortgages technically with one entity now?

I am sending a payment this month to at least keep just 4 months behind.

[CCCrazy]

My second is with WF and my home is upside down by about 20K with my first mortgage. Contact the 800 number that will appear on your Equity Loan statement after you are discharged AND closed. They cannot deal with you one on one until you are closed, or you send them a letter from your attorney saying that they can deal with you directly. You will either have to fax them or send them a certified letter with your offer of 10 percent of balance owed with a full lien removal. My certified letter was just delivered today - when I call them in a couple of days I'm sure that the letter will have been lost.

[HHM]

Actually, I just heard of someone getting 5%, but I wouldn't hold my breath for that.

[Lajazz947]

My second is with WF and my home is upside down by about 20K with my first mortgage. Contact the 800 number that will appear on your Equity Loan statement after you are discharged AND closed. They cannot deal with you one on one until you are closed, or you send them a letter from your attorney saying that they can deal with you directly. You will either have to fax them or send them a certified letter with your offer of 10 percent of balance owed with a full lien removal. My certified letter was just delivered today - when I call them in a couple of days I'm sure that the letter will have been lost.

Thanks, I sent them a letter from my attorney already so as soon as I am discharged I will start the work.

[CCCrazy]

Lajazz, please keep us posted on where you get with WF with your 2nd...I'm trying to settle my 2nd with WF too after a 7 BK and they've already lost a certified letter.

[NewLifeAhead]

Lajazz and CCCrazy, please keep this thread updated with your results. I have a 1st and 2nd with WF and NOD will be served anytime after 09/23.

Loosing paperwork seems to be the norm!!!!

[iv65536]

You have to wonder if, for the purposes of the OP's situation is there is coordination on both sides seeing that Wachovia is now a subsidiary of WF.

[Lajazz947]

You have to wonder if, for the purposes of the OP's situation is there is coordination on both sides seeing that Wachovia is now a subsidiary of WF.

Wachovia seems to be MUCH friendlier than WF. Everttime that I have spoken to Wachovia I get a great counselor who seems to level with me to the point where they have even told me not take make a payment " just yet".

They have yet to lose any paperwork.

WF on the other hand......................... what can I say that hasn't been said.

For those with WAMU/CHASE our company attorney says that their modification department is in dissarray so you need to be patient but they ARE trying to be helpful.