New Member
Posts: 4
Registered: ‎12-13-2012
How Settling a 2nd Mortgage After Bankruptcy Affects Your Credit

We have a 2nd mortgage that was dischagred in bankruptcy.  Now the lender has offered a settlement that is considerably less than what is owed.  What I'm wondering is how the settlement will affect our credit.  The offer letter says that they will report it as "settled for less than owed." Since it was discharged, though, can it even be reported?  Any advice would be helpful!