Sierra W asked:
I was one of the many Americans who took out one of the risky interest only loans to purchase my second home two years ago. The plan was to refinance to a fixed before the two year term was up but life threw me a few curve balls financially and and finances got out of whack. Now my credit is really bad (score under 500), the term is up, mortgage is going up by $500, and the home has not appreciated in value. No mortgage lender will give me the time of day. This has taken a MAJOR toll on my family and my husband and I are near divorce given the financial situation. Is there any way out of this hole?
Christina
I was one of the many Americans who took out one of the risky interest only loans to purchase my second home two years ago. The plan was to refinance to a fixed before the two year term was up but life threw me a few curve balls financially and and finances got out of whack. Now my credit is really bad (score under 500), the term is up, mortgage is going up by $500, and the home has not appreciated in value. No mortgage lender will give me the time of day. This has taken a MAJOR toll on my family and my husband and I are near divorce given the financial situation. Is there any way out of this hole?
Christina
Willie
Y
Comment by Y — May 26, 2010 @ 10:39 pm
Justin
5
Comment by 5 — May 27, 2010 @ 1:31 pm
Glenda
A
Comment by A — May 27, 2010 @ 11:05 pm
Marlene
S
Comment by S — May 31, 2010 @ 5:15 am
Cheryl
2
Comment by 2 — June 2, 2010 @ 3:43 pm
Jeanette
1
Comment by 1 — June 5, 2010 @ 3:41 am