Help for Homeowners

dorammendoza · 11-10-2008, 08:25 PM

In the ever increasing down fall for homeowners caught up in the adjustable rate scam, what help is there for the homeowner who is in a fixed rate with their principle loan balance overstated by $200k - $250k opposed to the current market value? It seems that many homeowners would rather just allow default on their mortgages and not continue to pay the higher payments. Is their relief for us out there? My mortgage company is not willing to re-write my note based on the current value. I know B of A has started to do so, in an effort save face. What now?

11-10-2008, 08:25 PM	#1
dorammendoza Junior Member Join Date: Nov 2008 Posts: 1	Help for Homeowners In the ever increasing down fall for homeowners caught up in the adjustable rate scam, what help is there for the homeowner who is in a fixed rate with their principle loan balance overstated by $200k - $250k opposed to the current market value? It seems that many homeowners would rather just allow default on their mortgages and not continue to pay the higher payments. Is their relief for us out there? My mortgage company is not willing to re-write my note based on the current value. I know B of A has started to do so, in an effort save face. What now?

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