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Balloon Mortgage with BoFA

I took one of the worst subprime mortgages done by Countrywide in 2006. In my desperation to stay in my home and lower my payment, I accepted I have a 40 year balloon mortgage at 4.7 percent (max) with a lower monthly payment. It;'s for $325K on a property now worth $250K and if I stay in it until the end I will still owe $180K in year 39. If I want to sell now, I will have to pay the amount of $325 PLUS the past due payments I owed at the time I modified. ($60K) Should I try to re-finance with BofA and see if they will waive that amount? Or am I just wishing that could happen in order to get out of this horrible mortgage??
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July 12 2012 - Downtown
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Yes, go to BofA and see what they will do.
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July 13 2012
do you know what kind of mortgage you have Fannie or Freddie that may be of some help you can refi with them or you can do a modification with BOA but it takes forever. [phone number removed by Zillow moderator]
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July 12 2012
 
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