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Should I Accept a Chase Settlement Offer on My Mortgage by Email? – Leo

I HAVE 2ND MORTGAGE WITH CHASE FOR 200,000 AND I’VE REACHED A VERBAL AGREEMENT OF 33,000 WITH A CHASE NEGOCIATOR.

HE HAS TOLD ME THAT MY LOAN HAS BEEN CHARGED OFF BACK IN OCTOBER 2009.

THIS AGREEMENT WAS DONE OVER THE PHONE ON NOVEMBER 10, HE SAID TO ME HE WAS GOING TO CALL ME BY NOV.15,BUT NEVER CALL.

HE WILL ONLY SEND ME SETTLEMENT AGREEMENT LETTER VIA EMAIL,NOT REGULAR OR EXPRESS MAIL AND WIRE-TRANSFER MONEY.

DOES THIS SOUNDS RIGHT AND LEGAL TO YOU?

CAN YOU PLEASE GIVE ME AN ADVISE?

LEO




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Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

6 Comments

  • I would be careful that you are not dealing with a con artist here. I would think that Chase would send something in writing, not by phone or e-mail. How did they contact you? Did you get a blind call or e-mail, or did you contact them?

    You need WRITTEN assurance before you send off money that this will absolve you of the debt.

    Call Chase using the number on your loan payment forms and make sure you are dealing with a legitimate person and not some Nigerian con artist.

    Once you wire them money, it is gone forever and you can never reclaim it.

    It seems very suspicious that they would write off $200,000 in bad debt for a mere $33,000.

    It sounds a lot like a Nigerian Scam to me.

    You had $200,000 as a SECOND mortgage? OUCH! That is a heck of a lot of debt!

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