by Chase Mortgage Loan Modification Expert - Dan North
The first question that comes to mind is did they charge off the entire 2nd mortgage or was this a principal reduction of the unpaid principal balance? Then depending on why they did the charge off would help to answer the question "What comes next?"
The answer to that question depends on a few things. I assume that you asked Chase to reduce your unpaid principal as part of a loan modification on your 2nd mortgage and this was not a charge off in a bankruptcy proceeding.
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