With my mortgage payment going up and i cant afford it,what should i do,i dont want to sell my home?

You are NOT alone in your situation. Many Americans are facing the exact same thing you are right now. First try to work with your current lender. The next step call the mortgage foreclosure hotline (that is what will happen if you can not pay your mortgage payment in FULL each month). Consider selling, consider BK 13 for primary residence protection. Keep in mind a trustee for a BK will require you to remain current on your payments to the trustee or you lose the protecting the BK provides.

Hope this helps, and Good Luck

http://www.995hope.org

With my mortgage payment going up and i cant afford it,what should i do,i dont want to sell my home?

Try refinancing through a different lender. Your best option is check around with several different lenders and find one who will refinance your home at a fairly low rate and make sure you get it a fixed rate. I am not sure why anyone would want an adjustable rate mortgage. You can count on the rate going up. They may tell you they can guarentee it will go up at least 1% but people, use your head. The rate will more than likely go up more than the 1%.

With my mortgage payment going up and i cant afford it,what should i do,i dont want to sell my home?

Your lender might ask you for a short sale but you might ask them if they can broker the your loan to another company. The only thing is that the other company can change your payment due to their guidelines and you may end up having to sell anyway. Go back and work out something with your lender. Also, look into finding a hourly job as well as your commission which will help with bills and your mortgage payment.

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