current on 1st letting go 2/3 scenario.....

[blncd1]

Anyone been through keeping current on first mortgage and letting go 2/3rd? did 2 foreclose?
our plan after exhausting every avenue is keeping current on 1st (same as rent here) and letting 2/3 go and filing for chapter 7.
the second technically could get about 150,000 out of 250,000, third nothing.
this is all we have. we are ready to foreclose.
just curious how long it takes a wells fargo 2/3 to come after you, are they awake?
anyone go through this scenario and what happened?
thanks again for any help!

[NoMoreCards]

If the second could get about 150K if they foreclosed, I can pretty much promise you that they will if not paid. So if you are planning to let them foreclose, I see no point in paying the first.

Now if you wanted to keep the home, and paid the first and second, the third would probably have to pound sand.

[blncd1]

Thanks, good point...to bad the 2nd is 600 a month and the 3rd only about 100 though! Hey at least it could be 100 less a month it's a little something until we decide to bail on the 2nd.