I have a 1st and a 2nd with two different companies on my house, currently we are in a bind, and really don't think we can afford this house any longer, in the area I am in I can't sell, and probably couldn't even do a short sale as this is one of the highest foreclosure rates in the country and their are a ton of new houses being build and houses for sale.
So my question is - if I start making payments less than my amount due, can they still foreclose? or will they finally try and work with me? I am current right now but when I tried to get the company to work with me they said they couldn't do anything. We can't [url=http://www.mortgagefit.com/refinance.html]refinance[/url] due to us being over extended, late on CC's etc.
So I was thinking we can pay $1400 on the first - our regular payment is $1817.00
and $400 on the second - our regular payment is $550-600
Can someone tell me what will happen if I start making these payments?