I lost my job in 2013 and my husband took on my debt.
Our home was once worth $315,000 but with the crash the value dropped significantly and is slowly climbing back to where it is now, $210,000.
We need to get major work done, our interest rates are high 8.075 k 11.6 on our 2 mortgages. No one will touch us because of the balance. We are really starting to drown in the debt and the struggles of maintaining this home. We are trying to find someone to give us some credible advice as to what to do. Right now we are leaning towards telling the mortgage company to short sale the house because they can’t or won’t help us. The one person told us to stop paying the mortgage and maybe we could get a modification.mwe are not willing to do that.
Please help..what can we do? I’m sure we are not the only people going through this. Thank you!

Terry Says:  OK, you are not alone in this.  Whether you can get any government help depends on the actual mortgage you have — but you have a head start if you are current on your payments.  Let me send you to my mortgage guru, Leslie Struthers of Guaranteed Rate.  Her email is Leslie@GuaranteedRate.com.  She has a good grasp of any programs available to people in your situation.   Once you’ve done that please get back to me and let me know what she said after learning your specific situation.  As a last resort if you can’t get a refi or government help, you’ll want to contact the National Foundation for Credit Counseling at 800-388-2227, to discuss the possibilities.

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