Mortgage Forum

Mike

Hi Guys...okay, so I'm new to this whole "tell it all" arena. So please forgive me if protocol slips here and there. :confused: Where do I begin? We purchased our home in 2002 with an adjustable rate loan that began to adjust upwards each year. So...our solution was to refi. Big mistake! We ended up with another adjustable rate loan with a higher interest and no more equity in our home. Several months ago (8?), we pursued a loan modification to help us during some financial difficulties...so naturally I thought that our prayers were answered when we were granted the modification. This brought our payment back within reason and we were on our way to the land of comfort again.... However, we experienced another financial set-back which caused a lapse in homeowner's insurance...so we were forced to repay for the insurance policy placed on the property by the mortgage company. They forced an escrow on our mortgage payment of nearly $400 which took the payment back up out of our range...again, more financial set-backs followed. Currently, we are 38 days past due and finding it very difficult to catch up as our other expense have fallen behind and are demanding payment. There's something about those utility companies that's makes you want to pay them...like bathing, cooking, etc. :) We believe we can turn our situation around to our benefit with some assistance but don't know where to begin...as I'm afraid now to make demands of the escrow dept. since we've rectified the insurance issue and received notification that the forced insurance has been cancelled. Our conversations with the mortgage company (Fremont Inv. & Loan) have been cordial up to now...I'd like to keep it that way. If things turn ugly, I'd hate to loose our home when the solution may be just around the corner. I welcome any insight...thanks CSPYDER