Debra Savittieri's Blog (1)

Chase Bank sells BK 'Discharged' junior HELOC debt to Five Lakes Agency, to collect this uncollectable debt.

Need feedback, help and advise.

I've listed a home (Nov. 2011)  in Scottsdale AZ, for a seller who was discharged of his Mtg Debts thru Chapter 7 BK in  2 months prior-Sept.2011.

The seller did not want a secondary negative credit reporting of a  'foreclosure' on his credit after his BK, so that is the reason he would like to short sell.

The first Lien holder ( B of A) approved the short sale and offered the junior Lien holder (chase) $6,000 to release the…

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Added by Debra Savittieri on February 15, 2012 at 5:29am — 12 Comments

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