CH 7 discharged... now we want to offer the bank (WF) to settle for less.
We owe 3rd mortgage HELOC about 38k. We would like to offer 10% to settle..
Realistically... what is the time frame that this can be accepted and closed, lien released letter sent to county recordiing office?
Is it ok to give the bank a deadline to accept and respond OR is that too aggressive?
Additionally - since it is post 4 years post CH7 discharge.... when contacting the bank to settle do they -
1- require any verification of income and current debt? Do they do an affordability test?
2- send someone out to appraise the home to see IF there is value today.... so the liens would be cover be the home's value.
