Cash Mortgage Settlement
Many borrowers do not know that it is possible to complete a cash mortgage settlement on their account without selling the property. While first mortgage settlements are a rarity, second mortgage settlements are much more common in the current real estate market. Many borrowers are only underwater on their property because of a 2nd or 3rd lien. They may also not only be able to afford the property because of a subordinate mortgage payment. If the borrower has access to funds and wants to complete their property, a mortgage settlement is a viable option to look into. We recently settled a second mortgage Home Equity Line Of Credit account for 9% of the balance owed. They owed $113,000 and the account was settled for $10,000. We also settled a $900,000 2nd mortgage for $200,000 with Chase. The borrower may not potentially have equity and no longer needs to worry about making that mortgage payment.
Fill out the form below if you have any question about a mortgage settlement or if you are interested in additional work out options that may be available for you.