I can't afford the adjustable rate mortgage payment
Texas foreclosure
This is an actual comment from a client:
"Have an adjustable mortgage, tried to refinance before the payments became too much for me to deal with in addition to taking care of a bipolar child with serious needs. But my credit score was too low, no one would help me before I started missing payments. Now I don't know what to do?"
In adjustable rate mortgage becomes a very tricky situation. If you're mortgage injustice to where you can now no longer afford the monthly payments than a refinance may be your only option. we may be able to get a loan modification approved for you where they lower your interest rate and make it fixed. This is not common yet we have been successful at this in some situations.
If you have equity in your house, no matter what stage of foreclosure the loan is in, we can get you refinanced. A refinance will allow you to get in
with the fixed-rate and the lower monthly payment.
Related Entries
- What happens if I can't sell it in time? - December 7, 2007
- Does the Mortgage Company have to tell me my ARM is going to adjust? - April 5, 2007
- Is there any help with ASC? - February 16, 2010
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