Mortgage Forum

Joel Fraser

Looking through the forum I've seen so much positive feedback and was hoping someone can point me to the right direction... I bought my home in El Sobrante, Ca. My loan is to reset in Oct of this year. Both of my loans are with Countrywide. The first loan is at 8.5% paying interest and principle. But my second loan is at a whopping 11%. I bought the house at $500,000. and the value of the house is at $360,000 according the the letter I received from the Assessor of Contra Costa County. I have not paid my property tax for this year yet, and won't be able to because I can't afford it at this time. A few months back we applied to see if we could get help because we were struggling to make our mortgage payments, but denied us saying we were making enough money to live on and pay all of our bills, however when my husband reported all of our expenses he did not include a couple of things. My question is, what can I do to try and get a loan modification? right now we are current, however I've only paid the smaller one for this month, but will once again be 30 days late of the second loan, therefor will take us behind a month again. The people who work at countrywide are so rude and just tell you to get a second job or cut back on expenses, but how can you do that when there's nothing you can cut out? I'm worried come October our loan will reset, and we'll really not be able to make our payments! Please help!Whats my first step?Mz