ON Canada - did you talk to the bank prior to skipping a payment? You may want to consider refinancing your current mortgage if the rates would make sense. Email me if you are in Ontario and I will be more than happy to review your consideration victor_catalan@centum.ca - Victor Catalan (647) 378-2143.

If you need to keep the house, call me and I do arrange real equity lending - meaning I will use the equity on your property to momentarily ease your financial status until you get back on your feet. Check with your bank as they may add additional interest on the late payments or foreclose you. You can also skip a payment at no charge (most banks offer this feature) I think once a year. Also check with your mortgage insurer if there is a plan available for you to momentarily get you out of trouble. email me - debtfree@victorcatalan.ca if you need further information.

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I am currently behind on my mortgage and my options are to sell the house for less than i owe, foreclose or as someone suggested negotiate my loan terms with my lender. who would i talk to do renegotiate as that would be my preferrence? i think if they would drop the rate for me i would be able to make my payment and save myself and the bank money by avoiding foreclosure. i just don't know who to talk to and how to convince them that this is the best way to do it. i can prove to them that i'm upside down and houses are sitting in the market for 6 months or more. the customer service reps won't help me because they are just trained to collect and i can't pay them.

Contact your lender again. Ask for their loss mitigation department. Then ask for a supervisor.

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Hello i need help im 18 and head of house hold ,my dad died and my mom is behind 4months we have a 30year fixed rate at 147,000 monthly payment of 2,000 we both only make combine 20,000.i talked with h.o.p.e and they will help us it cost 2100.00 to renegotiate but do i talk with chase first then do it with hope our lender was wamu and now is chase so its a big mess and my father had another loan at 90,000 and payment for that is around 390.00 can i combine them or ask hope to help me do that or do i separate it we cannot afford the 2,000 maby like 1,000 to 1400 but i rented my basement of my moms house to help us pay please i need you help give me you opinions or suggestion i want to keep my fathers house what can i do .intrest rate is 7.75 on 1st loan and the other is 5 percent

It should not cost you $2,100 upfront to renegotiate. Do not pay anyone any money to renegotiate your loan. If that money is part of the total "refinance", you might be willing to pay it. But only pay it when your new loan is 100% ready and the money and the papers are onl the table in front of you at a title company. Be skeptical. The 2nd loan is the problem. The HOPE program is for people whose first mortgage is between 80% and 105% of the house's market value. The $390 payment on a $90,000 loan is artificially low. It should be much higher. Or it is getting ready to re-set and the payment will increase. One option you have to consider is to "lose" the house to foreclosure. It will go back up for sale apx. one week after the foreclosure. The price for the house will be $139,900. RIght now you are trying to renegotiate mortgages totaling $237,000. If the HOPE program works for you, that loan amount will not go down by one penny.... only your monthly payments will go down. But if you buy it from the bank after foreclosure, you will owe $100,000 less than if you keep the house now.