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    #1

    Forgiving home equity loan

    A friend of mine stopped paying both her mortgage and home equity loan 2 years ago. She told me yesterday that a couple of months ago the bank sent her a letter and said they are forgiving the home equity loan which by the way is/was for $200,000. Her first mortgage is for over $400,000.

    Has anyone ever heard of this, the bank just forgetting about the loan???
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    #2
    It is probably part of the National Mortgage Settlement. For info, go to http://www.nationalmortgagesettlement.com/about or your State Attorney General website.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

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      #3
      Originally posted by rooster0330 View Post
      A friend of mine stopped paying both her mortgage and home equity loan 2 years ago. She told me yesterday that a couple of months ago the bank sent her a letter and said they are forgiving the home equity loan which by the way is/was for $200,000. Her first mortgage is for over $400,000.

      Has anyone ever heard of this, the bank just forgetting about the loan???
      It happened to my coworker...she had struggled for years to get it paid down and she got the same letter...much smaller amount however

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