Jodie- how did things work out? Did you pursue a loan modification?

Jodie,

Had a person called my office yesterday and recommened http://www.hopenow.org. She attended a seminar in Sacramento and she told me that athough she owed 390k, the reduced the loan amount to 189k with a 29 year fixed loan and a $1,500 pmt.

She was going to lose it and now she's very happy. Hope this helps you and others!

Sincerely,
George Kininmonth
George_Kininmonth@hotmail.com

Hi Jodie,

If I can help I will. At times like this it's common to feel that you are alone but in reality, you're not. Many families are in your situation. I know that isn't all that comforting, but it helps knowing that you are not alone.

That said...Refinancing is only an option if you have sufficient equity in your home and are not up-side down i.e. meaning you owe more on your home that the home is currently worth.

If that is the case, a call to your lender for possible assistance is the best call. Do all you can short of walking away from the property. Try to get a restructuring if you can. I hope you are able to work things out.

Respectfully,

George Kininmonth
FOWLER MORTGAGE & REAL ESTATE COMPANY
STOCKTON, CA
209-952-4574

Dear Jodie,

We are sorry to hear that you might not be able to afford your mortgage payment. Have you tried to refinance your mortgage with a lower interest rate? You should talk to a reputable lender and see how they can help you. Many lenders now provide loan modification. You should also contact the bank and see if they have any alternative solutions for you. If you really think that you cannot afford the home anymore, don't just walk away from the property. Find a reputable Realtor that you feel comfortable working with. We hope everything turns out well for you and your family.

Regards,
Jonathan