Last payment to Chase was in April. Just received the acceleration warning in the mail today. We're in Florida and was hoping this would really drag out - but is this a serious step on their part that things might actually go faster? I have little hope, but do plan on at least trying for a modification. I feel like we will eventually need to foreclose - but would really like to be able to last here for two years because of school issues with the kids - if it at all possible. If a modification makes that possible, then we'll worry about foreclosing later. I'm almost positive they aren't going to get it down to a payment I can afford though - so was at least hoping the foreclosure process would drag out. Maybe at least applying for the modification will slow them down some anyway.
So - is now the best time to call for the modification? The letter is implying that they are willing to discuss it at this point, as well as short sale, deed-in-lieu, etc.
Any idea how far we may be into the process now with this notice?
So - is now the best time to call for the modification? The letter is implying that they are willing to discuss it at this point, as well as short sale, deed-in-lieu, etc.
Any idea how far we may be into the process now with this notice?
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