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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72" style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal>I have never had a lender compromise their debt in the situation you face. I gather there is no other debt against the property and your client does not live there. The lender has no motivation to compromise and will get 100% of their loan, with foreclosure costs, if forced to collect.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Jeff<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal><b><span style='font-family:"Tahoma",sans-serif'>W. Jeff Davis<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'>BELL & DAVIS PLLC<o:p></o:p></span></b></p><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'>Attorneys at Law</span></b><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'><br>P.O. Box 510<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'>720 E. Washington Street, Suite 105<br>Sequim WA 98382<br>Phone: (360) 683.1129 <br>Fax: (360) 683.1258 <br>email: </span><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif'><a href="mailto:jeff@bellanddavispllc.com">jeff@bellanddavispllc.com</a><span style='color:black'><br></span></span><a href="http://www.bellanddavispllc.com/" target="_blank"><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:blue'>www.bellanddavispllc.com</span></a><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'><br> <br>The information contained in this e-mail message may be privileged, confidential, and protected from disclosure. If you are not the intended recipient, any dissemination, distribution, or copying is strictly prohibited. If you think that you have received this e-mail message in error, please e-mail the sender at </span><a href="mailto:info@bellanddavispllc.com"><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:blue'>info@bellanddavispllc.com</span></a><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'> or call 360.683.1129.</span><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif'><o:p></o:p></span></p><p class=MsoNormal><b><o:p> </o:p></b></p></div><p class=MsoNormal><o:p> </o:p></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> <b>On Behalf Of </b>Inge Fordham<br><b>Sent:</b> Wednesday, December 14, 2022 9:28 AM<br><b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br><b>Subject:</b> [WSBAPT] PC Question re HELOC<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Colleagues,<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>A PC contacted me regarding real property she inherited via her father’s revocable living trust. The property is encumbered by a HELOC that was taken out by the decedent prior to death. There is equity in the property. No other financial encumbrances. No probate. Until recently, she was making payments on the HELOC. She ceased making payments because she thought it might trigger some offer from the lender to settle the debt. PC wants to know whether she can negotiate with the lender (Wells Fargo) to settle the HELOC for less than the total payoff amount. My initial thought is that Wells Fargo has little incentive to accept less than the full payoff amount because it has a secured interest in the property and the estate is fully solvent. In my experience, larger institutions are less likely to negotiate. Does anyone have any experience with negotiating with a lender to settle a HELOC for less than the total payoff amount?<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Thank you,<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><div><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse'><tr><td width=60 valign=top style='width:45.0pt;padding:0in 5.4pt 0in 5.4pt'><p class=MsoNormal align=center style='text-align:center'><span style='font-size:10.0pt;font-family:Times;color:black'><img border=0 width=96 height=95 style='width:1.0in;height:.9895in' id="Picture_x0020_1" src="cid:image001.png@01D90FA0.5C1711A0" alt="uc%3fexport=download&id=1W3rEcChy0_E0cCfV5up02mkhwnL6eWIs&revid=0B4P5JoIHdbFaR29EbHlRWHFseFV5STZpSUVGeUNPWldkVDFVPQ"></span><span style='font-size:12.0pt'><o:p></o:p></span></p></td><td width=570 valign=top style='width:427.25pt;padding:0in 5.4pt 0in 5.4pt'><p class=MsoNormal style='margin-bottom:3.0pt'><b><span style='font-size:13.0pt;font-family:"Cambria",serif;color:#203864'>Inge A. Fordham | Attorney</span></b><span style='font-size:12.0pt'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:3.0pt'><span style='font-size:12.0pt;font-family:"Cambria",serif;color:black'>Fordham Law, PLLC</span><span style='font-size:12.0pt'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:3.0pt'><span style='font-size:12.0pt;font-family:"Cambria",serif;color:black'>3218 Sixth Avenue | Tacoma, WA 98406</span><span style='font-size:12.0pt'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:3.0pt'><span style='font-size:12.0pt;font-family:"Cambria",serif;color:black'>Office: (253) 348-2657 | Mobile: (206) 778-3131</span><span style='font-size:12.0pt'><o:p></o:p></span></p><p class=MsoNormal style='margin-bottom:3.0pt'><span style='font-size:12.0pt;font-family:"Cambria",serif;color:black'><a href="http://www.fordhamlegal.com">www.fordhamlegal.com</a></span><span style='font-size:12.0pt'><o:p></o:p></span></p></td></tr></table><p class=MsoNormal><span style='font-size:9.0pt;color:black'> </span><span style='font-size:12.0pt;color:black'><o:p></o:p></span></p><p class=MsoNormal><b><span style='font-size:8.0pt;font-family:"Cambria",serif;color:#7D888E'>Confidential Communication:</span></b><span style='font-size:8.0pt;font-family:"Cambria",serif;color:#7D888E'> This email is sent to a recipient on behalf of an attorney/law firm, and is information intended exclusively for the individual, entity or company to which it is sent. This communication may contain proprietary, privileged or confidential information or may otherwise be legally exempt from disclosure other than to the intended recipient. If you are not the named addressee, you are not authorized to read, print, retain, copy or otherwise disseminate this message or any part of it. If you have received this email in error, please notify the sender immediately by email or other communication and delete all copies of the message.</span><o:p></o:p></p></div></div></body></html>