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A ridiculous sub-prime loan has put me in a bad position with Countrywide
We were fine paying a reasonable mortgage for a few years, then around 2002 we got caught up in the re-financing craze in order to pay for music recording dreams, home improvements, etc. We went from one reasonable sub-prime loan to another ridiculous, more expensive sub-prime loan. The terms of that loan forced us to re-finance out of it into an even more ridiculous, high-cost sub-prime loan. Now we are paying 4,265 a month, and in about a year, the payment will go up to about 6,000 a month. We have one year to either fix our credit and go into a lower rate loan, or we will lose our home.
Related Entries
- Countrywide will not accept a Deed-in-lieu of foreclosure because our house is rented - February 12, 2009
- Countrywide will not approve a Partial Claim, do they have to? - February 12, 2009
- How does foreclosure affect our other home? - December 13, 2007
- My mortgage company won't help me - August 5, 2009
- Loan Document problems, now what do I do... I am still facing foreclosure? - January 19, 2009
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