Jonathan Blackwell's Q&A

You need to ask for a Certified Reno Specialist as Wells. I'm one in Georgia and just moved over from being a mortgage broker who specialized in 203K. I can say without doubt that Wells is the lender to go with. When I was working as a broker I had a lender that did a good job servicing, but took forever to underwrite, I also had lenders who underwrote faster, but sold to Countrywide to service and CW would take 45 days to disperse draw #1. Wells underwrites efficiently and disperses 7-10 days after close, which is the best combination out there.Whoever you use, my strongest advice is to make 100% sure Countrywide is not servicing that loan.

Yes, the fact that you feel like it is a god given gift that you should have equity and the lowest mortgage rate is what got us into this mess. You still got the tax advantages, you still own your own home rather than renting, yet you feel like you are owed because your home did not increase in value? As with any investment there is both risk AND reward.FYI, I live in your neighborhood, bought in late 2006, put only 5% down, but I'm not upside down. Would it have been better to wait until 2008 to buy? Probably, but I still own a home and I live with my choices.