Does anyone know of anyone that lends to military families in need of money. BUT the payments are defferred until the person is either out of the service or will deffer payments for the first year? We need help paying our mortgage and I have lost my job. The military can't help us because the house is in a different zip then where we are stationed. Its either we make these payments or we don't have a home to come back too when we relocate. There is way more to this story, but not enough time. Please help.
2007-11-30 11:08:37 · 2 answers · asked by help me 2 in Business & Finance ➔ Personal Finance
Have you contacted your mortgage company? If not I would give them a ring. They will probably ask for a written letter explaining your dilemma. The only other thing you could do is refinance and take the loan out for another 30 years. Countrywide has a 40 year mortgage. But there are usually closing costs associated with refinance.
2007-11-30 11:19:14 · answer #1 · answered by Tyrone Biggums 4 · 0⤊ 1⤋
You won't like my answer. SELL the house. Put the proceeds and as much of the payment as you can in the bank. When you relocate, use that money in the bank as a down payment on a new house.
NOTE: I would give this advice even if you COULD handle the payments. I don't recommend owning a house in a different city than where you live.
2007-11-30 15:09:11 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋