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Old 08-12-2007, 06:07 PM
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Bren is on a distinguished road
Default i cant refinance my home cant sell my and my mortgage...

...will be too high for me to pay this year what should i d realtors have gotten me in a mess i am afraid i will forclose if i dont get answers my home apraise for the same as my loan and i also have a high interest rate
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Old 08-12-2007, 06:42 PM
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Stop the blaming game. Your the one who signed on the dotted line. If you cant afford your mortgage try renting it to someone who can, place you house up for rent and move out into a less expensive apartment. You also might try to rent out some rooms or get a second job.
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Old 08-12-2007, 07:00 PM
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I m not sayin this is the right thing to do but....Jim Cramer from 'Mad Money" says it isn't going to get better. He says HALF of the homes sold in the last two years will go back to the bank. He says folks in Cal are just walkin away in droves. He states Bernanki has to do something to fix it. The dow dropped yesterday because of it and so did the foriegn markets this morning. Could be a long day on Wall St today.Good luck my friend......
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Old 08-12-2007, 07:45 PM
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Why have realtors gotten you in such a mess? Ok let's get you some help fast, HUD has approved for this counseling service to be available to anyone who needs help, just call 888-995-help. Don't delay, they may be able to help you rearrange your debt and keep the house. Good Luck!
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Old 08-12-2007, 08:02 PM
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You may be able to refinance your loan without cashing out. Find a "reputable" lender that can help you out with that or contact your current lender and ask them to evaluate your eligibility for a lower interest rate for the same loan.If you find you are not able to refinance to lower your payment, then try to work out a forbearance agreement with the lender where they will adjust the payment for a short term (maybe 12 months) until you can catch up on the payments.Otherwise, if you are not able to sell the property, and the mortgage payment is enough that a rental agreement could cover the cost of ownership, then rent it out.Rentals are the hot thing now, since it's becoming more difficult to qualify for a home loan.
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Old 08-12-2007, 08:35 PM
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Start renting out rooms if you have to in order to make your payments on time.
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