Posted on: 23rd Oct, 2008 01:07 pm
3 years ago we bought our house for 360k. Our house is now worth 250k now. We have two loans on the house on the 1st we owe 275k on the second we owe 75k. The 1st loan is a 40 YEAR ARM that can rise to 14.5% the second is a 30 year fixed at 11.25%. We make enough money that we can barely squeeze by so we will not qualify for these home save programs. Our house is three bedroom 1 bath. When we bought the house we had Two Girls with a big age difference and since then we have a newborn boy. We planned on doing an addition but we feel it is not worth it now. will there be a program coming out that can help me?
hi!
welcome to the forums!
i think you will get some help from the "hope for homeowners" program which has been introduced by the federal government from october 1st, 2008. it is said that this program will help people with a risk of default and foreclosure to refinance the mortgage into a more affordable and sustainable loans.
check out the "hope for homeowners" program from the given link:
http://www.mortgagefit.com/problems/hope-homeowners.html
feel free to ask if you have further queries.
sussane
welcome to the forums!
i think you will get some help from the "hope for homeowners" program which has been introduced by the federal government from october 1st, 2008. it is said that this program will help people with a risk of default and foreclosure to refinance the mortgage into a more affordable and sustainable loans.
check out the "hope for homeowners" program from the given link:
http://www.mortgagefit.com/problems/hope-homeowners.html
feel free to ask if you have further queries.
sussane