Home Mortgages unable to be refinanced.
February 5, 2009 4:57pm CST
It seems that all the help that is available for homeowners is if you are on ther verge of foreclosure. My home loan is more than the current value of my home because of the whole mortgage fiasco and I am unable to refinance because of this. I do not want to ruin my excellent credit but when my loan adjusts in a month we will have trouble making that payment. I was proactive and contacted my current broker and they said because we are paying our bill, they cannot help us. I also contacted the sites that are there to help people and they said the same thing. Why do I have to ruin my credit before the banks and goverment will help? All I want to do is extend my current rate or possibly negotiate the rate it will adjust to. The banks that got bailed out still received hefty bonus and luxurious offsites...is this fair? How many of you are going through the same thing?
• United States
5 Feb 09
I can't type much now, but I wanted to say that I am right there with you. You might want to see about contacting a reputable lawyer that specializes in Loan Modifications. Loan modifications of the type are to be done on people who are not late and haven't been. They also check for small discrepencies in your loan that would help them even more to get your loan modified. I know what you mean and it is not fair!