More details on private money question.Thank you to those who provided thoughtful advice without sarcasm and derision! Your guesses are incorrect. We had bad timing while relocating from Florida to Oregon. Bought house in OR high. Sold Florida house 18 months later at crash time. $100,000. equity vaporized and left us with major debt. Cannot afford current mortgage. Can easily afford mortgage on cheaper house even if future rates at refi are 8% or higher. Would pay interest only on private money until qualify for refi. Interest only would be comparable to paying rent with tax deduction for mortgage interest. I appreciate any other input regarding creative financing as we need a home for our family of 4. We were not looking to just walk away and have been struggling with Countrywide for 5 months trying to get a mod. We are left no choice but to plod along to foreclosure or short sell. All we want is a mortgage we can afford. We have secure income of =/- $100,000. annually. Thanks for ideas!!January 29 2009 - Medford00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe 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.