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    Success in Settling 2nds-cont'd

    Thanks Alwayshopeful. LONG post here but i think the timeline may be helpful to others. Stats at the time we decided to try Tom Eason's Strategy for Settling 2nd's- Original WAMU 1st and second which went to Chase. These are both refi's. California property. Zillow home value $600K in 2015...
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    Success Stories in Settling 2nds

    SUCCESS!!! OMG. Today, out of nowhere I received a copy of the Deed of Reconveyance and lien release for our Chase 2nd from 2006. We stopped making payments on it in 2012. I am stunned and still thinking this can't be real. Even googled the term to be sure i knew what it was lol! This 2nd was...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Has anyone asked with a QWR in this situation something like this- "Since my loan is owned by this trust, who is the trust beneficiary on my loan?" or "Does Chase have any ownership or beneficial interest or potential ownership or potential beneficial interest in this loan? . Are these...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    UPDATE- QWR replies received from Chase (servicer on both loans). The HELOC (2nd) QWR was received back quickly-within a week and confirmed Chase owns the loan. The first loan QWR request took an extra week but came back with the owner as 'DEUTSCHE BANK NATIONAL TRUST COMPANY AS TRUSTEE FOR...
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    Settle Chase 2nd For 10% No Docs ??????????????

    Movingice- everyone's situation is different but i would KILL to settle with Chase on a second for 10%!
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    Bagels at a Bar Mitzvah

    Hi Jeffrey, yes it was and we did not reaffirm. Just double checked dates and Chap 7 discharged several months after HELOC was transfered from FDIC to Chase.
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    Bagels at a Bar Mitzvah

    Been reading this thread for some time now to educate myself. Posted in a different area and Annie Mac thought y'all might be able to enlighten me on these loans. Short term goal is just to try to settle HELOC with Chase but arm myself with as much knowledge as I can for negotiation purposes...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    ....upon further review.... : ) Went to County Recorder today. Here's what I found (delete everything discussed prior): 2006- WAMU, FA 1st Deed of Trust recorded. No further recordings until 2013, a Corporate Assignment of Deed of Trust noting Chase as servicer but assignment done by "FDIC as...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Thanks Annie Mac. I suspect at some point I will find the fly (or many flies) in the ointment. But then what? I'm not counting on an extinguishment of the HELOC at this point as I assume it would have already happened. Are you thinking I organize all the flies and then use this for leverage in...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Annie Mac, I couldn't wait to dig in with the recommendations you suggested. I still need to completely verify but what I found with a quick file search on both loans were; Loan #1- not sure if this is the 1st or HELOC, still researching 1. Substitution of Trustee documents recorded...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Great info thanks Annie Mac. We're in CA, our WAMU 2nd loan origination date was approx 2004-2006 (docs are buried in a file somewhere) with our WAMU 1st a year or two before that. Are these dates relevant somehow?
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Thanks again for your insights Annie Mac. I have read almost the entire 'Success Stories..' thread and found it inspiring and fascinating and have for the most part followed the strategy to the letter. I always looked to find others with WAMU to Chase loans for similarities because I thought our...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Annie Mac, thank you very much for your input. The HELOC was not used to purchase the home. Can you clarify what you mean by 'focus on the primary loan'?
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Moe, on the QWR, which I will send two (one for each loan), is it as simple as "Who owns this loan?". I reviewed some other posts that had the RESPA references and sample letters which I'll include but I'm not sure if there is any other language I should include- such as why I'm asking etc. Thx...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    Thank you for the reply Moe. Am I maybe making an inaccurate assumption that Chase still owns both loans? We still pay them on the first, but have not heard anything from them since stopping payments on the second. For a short time a couple years or so ago we were being contacted by Realtime...
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    Does Having A Chase 1st And 2nd (heloc) Help Or Hurt When Trying To Settle 2nd?

    We have a Chase 1st (current) and a Chase 2nd (not reaffirmed in Chap 7 and no payments since 2012). These are both former WAMU loans. Ballpark #'s are 1st $500K and 2nd $250k with home value $725K. We are in CA. We are following 'the strategy to settle 2nd'. Does anyone have any insight or...
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    Chase 2nd "why Do They Always Ask The Same Question" Whats The Right Answer ?

    AnnieMac- I've read many of your posts here. I'm a WAMU to Chase customer also, on our first and Heloc too. We're in CA. Heloc was charged off in 2013 and not reaffirmed in Chap 7. Chase handed Heloc off to Realtime Resolutions (RTR) in early 2014 where they offered us an approx 25% settlement...
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    Who Is Smart & Could Get Me Started On A Path To California Settlements?

    GWB Casualty and custombuilder, (sorry long post here but I hope this helps you!) Both your stories are similar to mine and perhaps hearing another story and perspective may help you decide what course is best for you. We're in CA too and built pretty substantial wealth in construction and real...
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    Settling a 2nd mortgage after chapter 7 bankruptcy discharge

    Yes you are correct on the second mortgage, it stays with the home. Good luck to us!
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    Settling a 2nd mortgage after chapter 7 bankruptcy discharge

    clakeca, ...........one more thing: re-instituting payments on a charged off loan, or any loan, may create problems for you down the road. Your Chap7 may protect you but without it, I know for sure that you essentially re-start the clock on the statute of limitations (SOL) which is 4 years in...