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Registered: ‎02-22-2013
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Need Some Good Advise. Went BK, did not reaffirm my loan Should I leave or can I refinance?

[ Edited ]

Ok  first off thank you for taking the time and trying to help.  Your already ahead of my servicing company when it comes to trying to help.  I went BK in 2011 January.  It was discharged in April 2011.  So in April I will be 2 years out of BK.  My wife and I both went BK .  I am the only one on the mortgage but we are both on the deed.  I think.  I did not reaffirm my loan for one reason.  I was stupid to sign a loan application and loan docs to a conventional 30 year fixed 9 % interest rate,  My loan amount was 189,000.  I have lived here since 2006 and I pay 1967.10 every month.  Im going insane paying this amount to keep my home.  Ive come to the realization I cant save for my kids education and I either need to leave or refiniance.  I have tried calling my servicer and after 4  5 week and tried this 3 - 4 times over the last 3 years i always get turned down on a modification.  My loan is serviced through Americas Servicing Company.  The Investor is US Bank and they have denied my modification each time i try.  Do they want me to just walk away?  it seems by their inaction they do.  I also have a 2nd on my home through citi financial,  I did not reafirm that either,  I dont pay on that loan.  So im not sure if their still is a 2nd ( lein ) or in through BK it went away.  The second is for 30k.  So i basically owe $220,000 and the market value of my home is probably 150K on the low end or 170K on the high end.    Is there any way to refinance this loan?  Its not worth what I owe by a large margin.  I was told the servicer.lender wont do anything until its reaffirmed.  Why would I reaffirm if there is no guarintee they will work with me then.  I want to keep my home.  I cant keep paying 1950 a month.    If they would redo my loan at 3-4 percent I would have a 1100 payment.  My thoughts are let my wife who is not on the loan get a mortgage on another house , and she should qualify for FHA and its been two years,  I dont want to walk from my home and add the the problems of this nation.  But it seems their is no help for someone in my situation.  I would appreciate any advise.  We love our home and dont want to move,   But if I cant redo , or perminantly modify my loan my childrens education is much more important that staying in the home we love.  I think im screwed but if anyone has any ideas please send em  my email is edited   TY much.  Oh ya my home is in West Virginia



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Re: Need Some Good Advise. Went BK, did not reaffirm my loan Should I leave or can I refinance?

Check out the HARP program or Making Home Affordable program. Also see about a refinance through a different lender.
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