Profile picture for eagles0497

Hi i currently have a option arm mortgage through wamu/chase im currently under water by 25000 help?

ive been trying to refinace with them to no avail they told me to wait and see what obama would pass this was 3 months ago no one returns my calls
  • May 13 2009 - Lowell
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (4)

Your option ARM should have a payment substantially lower than anything you could get through a traditional refinance.  If you can't make THAT payment, no refinance will help you.  The option ARM clients I have have effective mortgage rates in the low 3% range right now.
  • May 13 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Call Chase back and ask for the "Loss Mitigation Dept."  They should be more helpful then there loan origination dept in your particular case.
  • May 13 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Have you missed or are you late on payments? If so you should try to do a short sale. If you would like help please contact me through my profile and I will give you more information. There is a good shot you can get help.
  • May 13 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for oldskoolballr
Sorry to say but it appears you are hosed.
  • May 13 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.