If you have equity in your home you may be able to get a loan with more affordable payments.
Contact your trusted Mortgage Professional to determine if a new loan is feasible.
A true mortgage professional can determine this by evaluating your complete situation.
Remember, you need to be working with a trusted mortgage professional, not just anyone.
You do not have the luxury to shop for rates and fees. Work only with a Mortgage Professional who has your best interests at heart!
While the recent Sub Prime collapse may have closed many of the doors used to "bail out" homeowners in the past, there are still many
options available from Alt-A paper loans to Hard Money. Too many times I have seen homeowners determine on their own that they cannot qualify for a refinance.
The truth is, only your Mortgage Professional can help you decide. Get professional advice now.
Step Two: Get Help
Contact a legitimate credit counseling service.
They can help you better evaluate your position and determine a course of action.
HUD has a toll free number to help you find an agency (800) 569-4287
The VA has one as well (800) 827-1000
Step Three: Be honest with yourself
For some people, at some times in their life, owning a home just isn't the best thing.
If you are one of those people start to look for ways out ASAP.
Your choices are simple (they make up the remaining 4 ways to resolve):
