My mortgage is a 5/1 arm which expired & I want to go back to 30yr, but my home value is lower than my mortgag?

Deal Score0

I was planning to sell the house when I first got into the 5/1 arm but home prices went down, I was stuck. the 5 year is up and rates went up. I lost my job and can’t make the higher payments, I talk with the loan company and they say my dept is to high and the home value is too low for refinancing. What am I to do?

3 Comments
  1. Reply
    wizjp
    May 3, 2011 at 3:20 am

    Wait. You are one of the people the bailout may be desigend to help.

    Check the HUD page from time to time as things shake out

    http://www.hud.gov

  2. Reply
    the d
    May 3, 2011 at 3:32 am

    foreclosure.

    or MAYBE obama will help you.

  3. Reply
    Samson W
    May 3, 2011 at 3:51 am

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