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Profile picture for peggy821

i want to refinance I am at 7.3 but my house is not valued at what i owe what should I do?

I can't make my 1661.00 payment now. I am 3 months behind and have contacted hope for homes and my mortgage company Country Wide.
  • December 18 2008 - Chester
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Answers (2)

Profile picture for coffebrk
You are not alone in your situation and the frustration that you are feeling. Your current lender is the best chance yo have to save your home. Being 3 months behind I expect you have already received the notice to forclose so you really need to contact an attorney or loan mitagation company. Lenders today are under tremendous pressure from regulators and the government to work with home owners to prevent loss of homes through any means possible.  Countrywide will work with you but they are swamped with requests of this nature. You need an expert to contact them on your behalf.   Good Luck.
  • December 19 2008
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Keep calling Countrywide, ask for Loss Mitigation.  Tell them you are in default and you want to save your home.  Ask if you can go a forebearance plan or get a loan modification.  If they deny all of your requests, you don't really have many other options.  However if you home is upside down, it would be in their interest to work with you.  Stay persistant with them and good luck.
  • December 18 2008
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