We are refinancing our mortgage and it is going through fannie mae. HOWEVER there is a 4 year old charge off for 4900.00 with BOFA that we have to pay off, our mortgage broker is telling us to settle. The charge off is not due to anything my husband did. He was the principal on an open line of unsecured credit and a friend was the co signer. The loan was for this "friend" who could not obtain the loan without my husband signing for him(STUPID). Anyway to make a very long story short this friend filed chapter 13 within months and this went to the bk court with all of his other bills. Shows on my husbands report as a charge off and the payments were never late right up to the point that it went to BK.(WE PAID EVERY PAYMENT FOR THIS BUM ON TIME,HE NEVER MADE THE FIRRST ONE)May I also mention that we were never given any warning that this was about to happen. I want to settle this with BOFA for a reduced amount. Has anyone ever had sucess with this? How do I proceed?? THanks,Ritch
<< The charge off is not due to anything my husband did janritch =============== Yes it was due to something he did - He signed on the dotted line.! ><- <>- ><- <> =================== ><- <>- ><- <> Con artists prey on stressed-out debtors http://immediamail.net/ct?id=22215&urlid=16303&lid=18&nlid=15&sid=1540&cid=617&oop=p ============== ><- <>- ><- <>===================
