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go2moby · Joined: 23 Apr 2009 Posts: 1 1.69 Dollars($)

I live in Sacramento CA. I bought a condo 3 years ago. I paid 178k and put down 20% received a FHA loan but was tricked into taking a 2nd at the time of signing. I ended up using almost 20K of 31k. My monthly payments are now $225.00 + $1100.00 for the 1st and $200.00 in monthly HOA dues. As you can see, it takes most of my income for my dwelling alone. I’m sure I’m upside down and need a refinance or another option I am unaware of. Any ideas from you, the experts? I would appreciate any advice!

elnoralittle · Posted: Thu Apr 23, 2009 5:57 pm Post subject:

contact the loss mitigation department of your lender to see if you qualify for the new Obama plan..or if they will renegotiate the terms of your loan.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

How can they trick you to get a second mortage after makign 20% down and how much is your first and second loan?

Do you have PMI on the loan also?( Did they trick you on that also)

jenkin7 · Posted: Thu Apr 23, 2009 11:22 pm Post subject:

Hi go2moby,

Elnora is right. You should contact the loss mitigation department and check out the option of a loan modification. As there is no equity in the property, a refinance will not be possible.

Guest

i can advise you on a du plus loan which is part of obamas plan seems to fit your issues

don terry
pan am bank

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