the site below should be able to provide answers to alot of your questions.

Typically new mortgages have limitations that they cannot change. Regulations in mortgages are changing nearly monthly. If you have a relationship with your original lending institution, I have found it may help to have them work with you and your Servicer to find a solution.

Many banks will extend your loan and reduce your monthly payments (adding them to the end of your loan) for a period due to hardship. Your mentality in this situation has to be one of a business from your end, do your best to eliminate emotion, which seems to paralyze many consumers into doing nothing which is never the best move. Don't be embarrassed or uncomfortable with the situation, it is occurring and it does not make you a "bad" person. If you receive an negative response from the bank or servicing representative, call back and get another person. Many times what one person says is impossible is just a lack of effort or motivation on that persons behalf. If you let them know you are willing to work hard and want to make this right, they typically "find" a way to work with you. The best thing to say if you hear it is impossible is. "If there were a way, how would we do it?" Many times I solve problems where others fail with that one little phrase. I wish you well.

You may want to call your US Congressman & US Senator to see if anything in the new Economy Bailout Bill can help?

Larry

realtor0128@yahoo.com

Deborah, You might check this out and see what happens....http://www.995hope.org/
It's the Homeownership Preservation Foundation.

Good luck, Dunes

You might also want to consider doing a short sale.

Renting is cheaper, stress free, maintenance free, and probably half the cost. Good Luck

I agree with Lisa. A loan modifcation company is going to be able to spend more time on your problem. The mortgage companies are laying people off left and right and do not have the manpower to spend time evaluating issues more than the stastistical overview.

The link below might be a good place to start

Check with a modification company about your options. I have seen over and over again regular consumers getting lost in the shuffle because the bank knows they don't know how to work in their system. Here is an article about a company that is recommended by the Tampa Bay Business Journal. Try to find a reputable company - I can get you a number for U.S. Settlement Services and recommend them too.

If you do go it alone - you may be able to move payments to the end of your loan but representation can get you rate reduction and even principal reduction too. Good-luck