Mortgage refinancing troubles, facing bankruptcy?

4 Responses to “Mortgage refinancing troubles, facing bankruptcy?”

1. Tim says:

   October 9, 2010 at 2:37 am

   Check with the current lender, they might be willing to convert to a fixed rate or even combine the two loans.
2. jacksonphisig says:

   October 9, 2010 at 3:22 am

   that’s a tough one…

   first I would try to get another appraisal for at least what you owe from another company.

   if that fails, buy there are a few companies that will still give you a 103% loan to value which is about where your at once you include closing costs and existing liens… the rate will be high but at least it will keep you out of the adjustable nightmare… (7 to 9 is only the beginning…5-6% life time cap…) so if you can get out..do it.

   third if you absolutely have to you’ll end up taking as much money as the bank will give you (normally 100% of your appraised val., again at an above normal rate) and paying the difference out of pocket….3-8k in your case)

   the most desperate thing you could do which is highly NOT recommended for too many reasons to list… is to short sell your house back to the bank, called deed in lue of foreclosure, which is essentially giving the house to the bank and they eat the loan then you walk away…the bank has to agree to this as well, but this will get really ugly.
3. Pengy says:

   October 9, 2010 at 3:26 am

   Unfortunately you are one of thousands that are in this trap 100% financed and the housing market crashed, and that crash is not over, prices are dropping big time, and interest rates are rising, expect to see your 9% hit 11-12 in the next year. Part time second job? Other than that sorry to say do not see anything else you can do except bankruptcy
4. mark w says:

   October 9, 2010 at 4:01 am

   May be I Can Help You:

   Just try:

   http://www.proloanz.com/Mortgage_Refinancing.htm

   http://www.mortgagerefinancingatlowrate.com/Mortgage-Refinancing.asp

   http://www.topamericanmortgage.com/debt-consolidation-loans.asp

   http://www.apply4less.com/mortgage_refinance.htm

   these website links will definetly help you in solving your mortgage refinancing problems.

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