jwmm04

they said it was part of the government bail out plan. That an FHA approved lender would buy out my mortgage even though I'm upside down.

When I called my lender and talked about my situation they told me about hope for homeowners, it doesn't make much sense to me, does anyone know anything or have delt with it? Im currently 40K upside down.

I wasn't implying anything and I never said whether I could afford my mortgage or not, I've managed to pay it on time every month is all that was said. The original post was a loan mod with BOA, I simply replyed about my experience. My financial discussion isn't the focus of the discussion so assumptions don't need to be made that I was asking for a hand out JUST because.

I've never been late but my mortgage had adjusted to 11%. I called and basically asked if there was anything that could be done. I did an application over the phone and they asked how much I paid for everything...car payment, insurance, food, gas...EVERYTHING. I they offered me 9%, I asked if they could do better and they came back and said 7.5%. I'm accepted but I'm gonna call back and ask for more. I've never been delinquent and for people that have, they are getting 6%. Why can't I get 6%? The modification isn't complete, they have to send me paperwork but they told me it was pretty much a done deal. Point being...just call and ask, the worst they can say is no.

I'd like some information on this also...

well our income hasn't changed alot, my husband is an auto mechanic and works on commission so he has felt some of the effects of the down economy. I would just like our mortgage to be more affordable...I'm sure just like alot of other people.

Please help...

I live in the sunshine state of Florida and currently own a townhouse. I'm upside down about $40K and I just bought it 3 years ago. I've never been late even when the mortgage adjusted. I've got 2 loans (80/20) 80 - adjusted to 11.10% 20 - fixed at 11.24%. The mortgage is for $135,000. I got married about a little over a year ago but my husband is not on the mortgage. I'm a teacher and he's a car mechanic. We pay our bills responsibly each month, things are starting to get a little tight and we have been using our credit cards more often. We still pay everything on time. I've heard so much about help for the people that are facing foreclosure, can I get help with the adjustable mortgage. I've heard things about loan modification, but everything I've heard is its a struggle to get approved. Can someone offer me any advice? We want to start a family but it would be hard. Any and all advice is helpful. Creditboards helped me so much when I repaired my husband's credit. Thanks...

I'm really interested in refinancing, is there somebody that can help me?

yea it is fixed. So I'm trying to understand this correctly, I should just try to refinance the 1st?

what if they are the same lender?

I got an 80/20 mortgage. The first mortgage is IO and has a balance of $108K. Thanks for replying!

I bought a townhouse just over 2 years ago, I was able to finance it through a stated income mortgage and did 100% financing. At the time I didn't have the best credit score because I had a high debt to income ratio and I didn't have a high paying job so I settled with a 2 ARM. In the last 2 years I got married and got a new job and paid down a lot of debt. My husband and I decided after we got married that we wanted to sell the townhouse and get someting bigger and started fixing it up, well month after month, day after day, the housing market got worse. We kept getting more discouraged to put our house on the market because of the declining housing market. Now, I think we have decided to look into refinancing. We have good credit, I checked my Equifax FICO score and it is 692 today. The problem I think we are going to run into the value of our house. We owe a little less than 135K, townhomes are listed in our neighborhood between 120K and 145K. I don't know what to think or do. Does anybody have any suggestions? I keep hearing that interest rates are dropping and we'd like to take advantage of a low interest rate if we can before its far too late...or is it. Stuck!

I could do this part time, I'm trying to buy a house and I just got married. How do you sign up?

My car is paid and my fiance's car payment is only $175/month. Credit card minimum payments are only $75 total.