Re: not sure if this is the right forum to ask--but credit related
is anyone out there in that same problem as me with home mortgages? we signed a 2 year fixed and it will change to adjustable in aug - my paperwork shows a 500 jump-
we are in Calif- so equity has dropped, i owe more then my home, there are shortsales and forclosures all around---
yet to refi- my credit score isnt high enough for a 100% loan to value--
just wondering if anyone knows what the scoop on this situation --
Contact your lender. It does them no good in this market to forclose on you and some of the bigger banks are starting programs to help their customers stay in their houses. They will more than likely work with you since they probably can't get out of the other homes in your area the amount owed. Contact them and soon.