we got into debt with our mortgage now paying it off?
by Mortgage Rates on Thursday, December 2nd, 2010 | 2 Comments
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Absolutely, problem you may find is your lender will charge you a higher interest rate, as they’ll consider you a liability. Good luck, hope it works out ;-D
Your best bet is to contact your lender to see if they can help you. Several programs exist now, due to the sub-prime fiasco, but your first step is to contact your existing lender to see if they can offer a solution.
Try to get them to lower your rate, rather than just giving you longer to pay. If your credit is in decent shape, and you have equity in the home, you can look for another lender to see if you can get better terms.
A mortgage broker will probably have more options available to you than your bank, so I would recommend starting there. Good luck!