I bought the house with Chase Home Finance and Citimortgage. The first mortgage is 312K and the 2nd mortgage is 80K. I stopped paying the 2nd mortgage a long time ago in hopes to concentrate on modifying the first with Chase Home Finance. I am still pursueing modification with Chase.
I received a Notice of Case Management Conference for this debt. Also, received a Plantiff's set of Interrogatories and first set of requests for admissions.
I dont want to file Chapter 13. What is a realistic settlement for this worthless 80k debt on my house? My house is only worth 295k per Zillow.com.