Posted on: 14th Oct, 2010 08:04 pm
i have a 20yr mortgage and i am 2 yrs into it. my interest rate is 10.75%. we have been paying on it biweekly since june 2008. my monthly note is getting to be alittle unbearable and my job might not be secure. i'm paying 1575 a month. what can i do?
Do you have equity in your property? If yes, then you can apply for a mortgage refinance in order to take advantage of the low rates. However, if there is no equity in the property and if you're facing financial hardship, then you should speak to your lender and apply for a loan modification.