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earlgobel · Joined: 10 Jan 2009 Posts: 1 1.24 Dollars($)

What can I do if I am upside on my mortgage. And my interest rate will reset in aug2009.

Caron · Posted: Mon Jan 12, 2009 3:59 am Post subject:

Hi earlgobel,

If you are upside down on the mortgage, you won't have enough equity to refinance your mortgage. By the way, by what amount are you upside down? depending upon the amount, you can negotiate and work out an alternative plan with the lender. You need to contact the lender's loss mitigation department and explain your situation. Take a look at the loan workout options before you negotiate with the lender.

Good luck

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