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  • k0_
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When will home owners who are actually making payments on time and consistently ever get a break?

I can barely make payments on my house, but I'm giving up different things in order to pay it every month.  When will we ever get a break?  I'm not willing to go into foreclosure b/c I've built my credit up so high, I don't want to see it go down.  Is there any advice on what we can do?
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February 11 2009 - Payne Phallen
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Answers (4)

assuming you can't refinance to lower your payments, contact your lender and ask for a loss mitigation specialist or speak to a "knowledgeable" customer service rep. in the mortgage servicing dept. and request a modification of your mortgage terms.  this is your best bet.
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February 11 2009
Profile picture for a_w_jr
Good luck!  If there's one thing i've learned in my short life, there's only help for the super poor and those people who know how to cheat the system.  You and me friend should be rewarded, but we aren't and will have to pay more to help everyone else.   Best wishes
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February 11 2009

k0,
I do believe there will be some type of reprieve for paying homeowners. You are the only thing left.. TARP this and that to those who will still walk away is going to set into reality.  Rates are very low, so if you are struggling and have a low rate already, reducing it to 4% even will not change the world for you.  All of us grinding it out are in hopes that we will be recognized and rewarded for our efforts.  It is sad/funny that all efforts are formulated to appease those already in arrears and threatening to "walk" from homes..  It should have been the other way around from the inception and we would be in much better shape. I wish you well.. Hang in there.. Thank you for paying for your home and keep rockin'.

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February 11 2009
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k0_,

Cutback, prepare and brace yourself for the worst and hope for the best.  That is all you can control.
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February 11 2009
 
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  • Asked by k0_
  • In Mortgage
  • February 11 2009
Mortgage Rates
 
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