http://www.ummaa.vpweb.com/packageprep.html settle your 2nd mortgage HELOC
Settle your 2nd mortgage second or HELOC home equity line of credit. This a type of modification many people over look. I have seen many many many lenders take 1-5% of the loan balance as settlement. If you have a 2nd or heloc you need to watch this video.
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Tags: 2 nd mortgage, heloc, home equity line of credit, Kevin mcgill, second mortgage, UMMAA
February 10th, 2010 at 1:43 am
Your idea is right on the money. I think if you can plan on 10% of the balance with a hardship, you will have a great chance. It IS possible for less money, but it seems that 10% is the target most have.