Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - My mortgage lender, Wells Fargo, sent me an application for the Making Home Affordable program - any thoughts? - My husband and I recently filed chapter 7 bankruptcy on everything but our home and car due to him losing his job with zero unemployment benefits for 6 months. It was horrible and we could never catch up with all the crazy over the limit and late fees on our credit cards.
Anyway, I have an ARM mortgage that will NOT adjust until 2014. I have negative equity thanks to the wonderful market. My appx value is probably around $83k and I owe about $96k. My interest rate is about 8% but with zero PMI with a monthly payment (with escrow) of $900.
This MHA program sounds like they could get me down to about $700 a month, which would be great. Do you think I will qualify? I am 1 month behind on a mortgage payment. Any other advice on this program? -
