Mortgage Forum

Mike

Hi everyone. I am not as unfortunate as others are on here, but my situation is a little different. I am only able to make it because I have zero money left over for anything. I currently with my finance, who helps pay the utilities, without her, I wouldnt be able to afford our home. I have a fixed loan at 6%, our taxes have gotten so horrible that I pay 350 a month alone. A similar priced home bought in 2001 will have taxes around 1800 while mine are 3600 a year.

Luckily I have not been hit with the insurance crisis we have in florida, but that can change in any minute, which would drive me to bankruptcy. I currently owe 25k on credit cards which average 3.9%, I am no fool when it comes to money, but with hard times that are here, if any of the following were to happen, I would be screwed. Hurricane, (i live in florida), insurance increases, taxes dont fall, I lost my job. I am also getting married in january. I am able to put away 250 a month into my 401k and 250 into savings, but thats going to the wedding fund. I cant afford to skimp on my retirement, because there will be no one to help me then. The govt hasnt acted on regulation on an 100 year old policy.

I would love to keep my execellent credit rating and not go into my savings or retirement accounts, If I were to lose my job I want to have enough to fall back on, right now I dont have enough for 2 months mortgage payments. I am currently working 2 jobs just to be able to pay all my bills.

I actually work in a restaurant to help feed me since food has become so expensive. I know my story is like a million others, is there anything I can do? I pay pmi, I have only been in my house for 16 months. I have never been late on any payment, nor do I ever plan to be. I called Cw at least 5 times to drop pmi and they wont.

I threaten to refi, but I cant as the property value has dropped and is not close to my appraisal which is no good after a year anyways. (so i was told) I wouldnt be able to afford a refi now anways, I dont want it backended into my loan.

I would love to lower my interest rate and get rid of my pmi. I am currently pay 1650 a month, a lil extra than is required to help get more equity built up to get rid of pmi quicker. Is there any help for me? Thanks for your time and good luck to anyone who really needs help from all the ppl who lied to you.