Home Mortgage Solutions
Any ideas on the solutions to this mortgage problem?
Some say that their mortgage is adjustable, and the percentage will rise in December this year, and so believe they will not be able to afford it at this point and that they will be forced out:? Is this true and what can they do to A.) keep their homes b.) or possibly sell it? c.) still have a place to live? How might this affect their credit if they are forced out? They have good credit and good jobs but they say that they have already tried to ask for a refinancing, and that they can not offer one, because the property is too low in equity to qualify? They have asked only one company so far, it is possible that another company can offer a refinance?
Tell them to research "short sales".