My Mortgage Is A 5/1 Arm Which Expired & I Want To Go Back To 30yr, But My Home Value Is Lower Than My Mortgag?

Author: Rob  //  Category: Q&A

I was planning to sell the house when I first got into the 5/1 arm but home prices went down, I was stuck. the 5 year is up and rates went up. I lost my job and can’t make the higher payments, I talk with the loan company and they say my dept is to high and the home value is too low for refinancing. What am I to do?

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3 Responses to “My Mortgage Is A 5/1 Arm Which Expired & I Want To Go Back To 30yr, But My Home Value Is Lower Than My Mortgag?”

  1. wizjp Says:

    Wait. You are one of the people the bailout may be desigend to help.
    Check the HUD page from time to time as things shake out
    http://www.hud.gov

  2. Samson W Says:

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  3. the d Says:

    foreclosure.
    or MAYBE obama will help you.

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