Posted on: 11th Dec, 2009 02:01 pm
I was diagnosed with gloucoma. I am about to lose my home cause they say I need check stubs. but if I get on disability what happens ? I dont want to loose my home I have owned it for 6 yrs. I was put into one of those ARM loans. My pmts were $2000.00 now they are $5,500.
if you've equity in the property, then you can refinance the loan and lower your interest rates. this will help you in paying off the mortgage dues easily. as far as i know, it is possible to refinance the loan if you are on disability income. you can check out a related discussion in the forum regarding the same topic at:
http://www.mortgagefit.com/know-how/about4035.html
http://www.mortgagefit.com/know-how/about4035.html
You can potentially get a loan modification if you can prove you will have steady disability payments for the foreseeable future. Additionally if you have anyone else living in the house whose income you can use it will also count towards a successful loan modification.
Go for a loan mod or try and refinance, there are plenty of online sites that can help you with this and it'll help you out if you can get it done.