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We can't refinance so I guess we will just lose the home
The present loan is an 8.8 arm that will mature in Aug. 2009. we have had a loss of income of about $800. per month as of Sept. of 2008 and have been struggling to make the payments. we have tried to refinance many times but have be turned down every time. up until Dec. 08 we had stayed current on all our debts but our debt to income ratio they said was not good enough. We need a better percentage rate and for it to be a fixed rate to be able to keep up with the payments. The house appraisal has always showed enough equity for refinancing but have not been able to get it done. We have had modification Law Firms tell us that they could do the refinance, but of course they want $3000.00 to do so. that seems so unfair. Your help and consideration would be greatly appreciated.
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