How To Write A Hardship Letter To My Mortgage Company?

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asked 2 years ago

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We signed for a two year fixed arm, honestly thinking our credit situation would be better, that we later be able to get in a low interest 30yrs fixed. Now our credit situation has much improved, but our neighborhood took a dramatic hit, no sells and more foreclosures. The equity I we have on our property to refinance is no longer there, this truly creates an impossible situation for my family to afford. When the rate and payment adjust effective the first of June 2008 on my property, its impossible for my family to afford paying $900 more adding to our current payment of $2,376.67 monthly. My wife and I work really hard every single day, we also work a part time job together to help accommodate our needs. We love our home, wea I'm to stay and foreclosure is not an options to us. All we asked could you please create and consider our cry for a doable middle common ground we both can meet if it all possible.

Thank you,
Robert Ropati

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Alofar

answered 2 years ago

Wow, We are in the same exact situation..... I mean exactly! 2 yr. Fixed beginning of 06, in less then a year equity went up 80k, we wanted to refinance once the 2 yr was up and all of a sudden we owe more than the home is worth..... Now paying 900 more which is about 4k a month for a 1200 sqft. Home.... I mean we love our home as well but with the economy the way it is (my husbands a contractor with his own company) We just cant keep doing this.... Well good luck to you, we're trying to work on a loan mod. Now with a mod. Specailist. I guess good luck to all of us homeowners!

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