foreclosure options california
I have a modified 1st mortgage with Wells Fargo and a 2nd lien with Chase.?
I have been paying the 1st mortgage on time for the past 5 months and have been working with Chase to modify the 2nd. lien. After submitting all the paperwork and working with them for 9 months, I just received a letter this week saying my modification with Chase was denied due to the fact it is a “2nd. lien”, and they plan to foreclose on my home. The 1st modified Wells Fargo mortgage is for $590,000.00 and the Chase 2nd lien is for $58,000.00. I live in California, and the home was purchased for $715,000.00 and is now worth $440,00.00. Can Chase foreclose and if it’s possible what are my options to stop the foreclosure?
Of course they can. Their money is sitting in your pocket and this is the only way they can giet it if your greedy little fists refuse to release it.
Since it is full recourse they can pursue it after the foreclosure, they can’t really do too much unless they foreclose.
If you want to stop it you will need to return their money.
