Need help on payoff offer to 2nd lien holder
I owe $360,000 on 1st and $260,000 on 2nd = $620.00. My home value based on current sales of same home size in my neighborhood $425,000. I filed chapter 7 bankrupsy 2 years ago. My 2nd gave me a temporary 6 month reduction in payment. Which I made the payments on time. I can no longer justify keeping this 2nd mortgage and unable to continue to pay. I would like to make a payoff offer that would benefit both lender and me. What would be a reasonable offer. Please advise