I recently refinanced my home so I could rebuild, but the contractor took the money and ran. He was recently indicted. Further, I recently lost my job as well, which makes it even harder to pay the higher mortgage payment. I've attempted to contact my banks, but they just give me the run around and don't help. Is there a way I can lower my mortgage payments, at least temporarily until I find another job?
2007-02-25 07:02:39 · 6 answers · asked by Amber B 2 in Business & Finance ➔ Renting & Real Estate
I have heard that you can call your mortage company and negotiate a bit. If the bank is holding your mortage and being unresponsive, I would call the President of the bank.. The President will not deal with this but it will get you to a person high enough to negotiate.
2007-02-25 07:08:26 · answer #1 · answered by worldsource19 3 · 0⤊ 0⤋
I feel so sorry to hear about that. I wish I can say that there is way to lower your mortgage but there is none. A lot of loan company said that 1.5%, 1 1/4%, cut your mortgage in half, and etc... But all of them are very risky, because you will have to pay much more in the future and principle will get larger. If you think lowering mortgage in only way, then learn the risk from loan officer. Also, go to google type risky mortgage to find detail information about mortgage. Must know about penalty amount and penalty period. Try to learn as much as possible, this way you will be able to save a lot of money and avoid from scam.
2007-02-25 07:29:02 · answer #2 · answered by sky88jota 1 · 0⤊ 0⤋
I can refinance you for a 40 or 50 year mortgage. If you're interested contact me sometime.
2007-02-25 13:28:34 · answer #3 · answered by Phil H 2 · 0⤊ 0⤋
Check out the free evaluation form at
www.totaldebtsolutionsllc.com
They have a network of loan officers that may be able to help you. Good luck.
2007-02-25 11:12:31 · answer #4 · answered by CALIFORNIA GOLD 3 · 0⤊ 0⤋
You may get some tips regarding mortgage here
http://homeloans.atspace.com
2007-02-25 19:04:00 · answer #5 · answered by Roxxy N 1 · 0⤊ 0⤋
Refinancing is the best way to go. Send me an e-mail and I will see if I can help you.
2007-02-25 16:00:43 · answer #6 · answered by Amber J 2 · 0⤊ 0⤋