I’m 3 month behind on my mortgage. I try to refinance but my credit is bad. What can I do?

Deal Score0

I try the gov. plan to help trouble home owners but they told me they couldn’t because it’s a conventinal loan. I didn’t know that only FHA loan . My exhusband helps me but still not enough.
What can I do.

6 Comments
  1. Reply
    Dave M
    May 2, 2011 at 11:46 pm

    You may have little choice other than to sell to avoid foreclosure.

  2. Reply
    Huba
    May 3, 2011 at 12:16 am

    Now is the time to look at what you have in the house and sell somethings. Your credit rating is going to suffer a long time because of this and if you leave this house, don’t expect to buy another. Talk to the mortgage holder to see if there is anything they can do. You want to communicate with them so they know you are trying. Otherwise, you’ll end up with an eviction notice and they will foreclose on you. Meanwhile, you have to rebuild your credit. It may mean working two jobs or cutting expenses to the bone, but this is not a hole that you can easily crawl out of.

  3. Reply
    Midnight Carnival
    May 3, 2011 at 12:51 am

    Burn it down collect the insurance.

  4. Reply
    bobby d
    May 3, 2011 at 1:50 am

    I agree with Dave. Unless you can come up with a way to catch up and stay current, you should sell.

    This is an indicator that you have more house than income and need to fix that problem.

  5. Reply
    kissmymiddlefinger
    May 3, 2011 at 2:31 am

    Refinancing probably wont help much….the time it takes to do so might mean the difference in foreclosure.
    CALL your mortgage company NOW…wiht the housing market what it is today, they do NOT want your house…they might be able to rehab your loan by putting the payments on the back end of the note if you can prove to them that this particular delinquency was due to something that is not likely to happen again.
    If it is the case that you simply cannot afford your house you might want to consider selling your house

  6. Reply
    Jose O
    May 3, 2011 at 3:13 am

    Well maybe if you stop waisting money on clubs and drinks with that no good guy you are with you would not be so far behind on you re mortgage Vanessi !! . I know this woman let me tell you she had a good husband hard working man. What did she do, had an affair for 11 years still he forgave her . Went to marriage counseling. Just to find out she was still screwing someone else. So he move out with the kids. Now she don’t even see the kids. Now she worried about the house. You had a lot but you threw it away for this no good woman beater.

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