I need some advice about the house I bought 3 years ago we have negative equity!
By succed
@succed (879)
United States
March 21, 2009 6:49pm CST
Have you guys heard about President Obama will help those homeowner who has negative equity on their homes? If so, where do we go? Who should we ask help from?
3 years ago we bought our house for $225,000.00 we put down 20% and now after 2 1/2 years of paying we only down to $175,000.00. The value of the house is only $166,000.00. The interest is 6.875%, my question is where do we seek help? I need to bring our payment to lower than what we are paying right now and also we would like to find lower interest than what we have right now. What do u guys think should we do? My company that I work for did not give us a raise this year but secured us that we wont loss our job. But with the food and gas keep crawling back up we just couldn't afford now than what we can. Any help or suggestion would greatly appreciated. Thanks guys!
1 response
@spalladino (17891)
• United States
22 Mar 09
Talk to your mortgage company, they may be able to help you but you're not too upside down so I'm not sure if they will. You could also see if they'd be willing to refinance you at a lower rate and, if they won't, check around and see if someone else will.
@succed (879)
• United States
22 Mar 09
Thanks that is my goal this weekend to see what I can do to lower my interest rate. I think my interest is 2 percent more than what the current interest now. 2% is I believe is worth to refi my home.
