Modification Question

[Mike]

What have people been doing when they are upside down? Has anyone had any success with the second lien holder redoing the second? We bought our house Nov. 06 and currently are $105,000 upside down. We've had zero success with our second lien holder Homecomings because we are not yet late. Our first lender Amtrust modified our loan for us without any questions. We told them we were nervous becuase in one year our ARM was set to adjust. After a lot of thinking unless our second Homecomings helps and forgives part of the 2nd lien I think it's best to walk. We live in FL and it's going to take 6+ years to get $105,000 back. Easiest thing is to walk and file Ch. 7 and start again.