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I just moved down here to Georgia from California and I moved in with a friend in her house. Little did I know that to this date she has not paid a mortgage payment since August 2007. She had something called an 80/20 loan. One of them is from Chase and from Wilshire and she is behind with both loans. Chase sent her an offer to help bring her loan up to current. With fees and the default she owed like around $13,000. They stated in the letter that if she made a good faith payment of $1456 she could start paying her mortgage over again but she had 10 days to do that and send it back to them.She never did anything or responded to them at all. Does anyone know what could potentially happen now since they did try to offer her a settlement & keep the house but she didn't follow thru???We haven't heard anything from the other mortgage company Wilshire yet. Any help or advice would be appreciated. I know only a few people out here and would hate to be stuck with nowhere to go.Thank you,
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