Re: Thinking of foreclosure :-( in CA (Sacramento)

Posted by Sad_Depressed on October 25, 2007 at 19:15:46: Okay....had a 2 yr fixed which just spiked pretty high....we have a single loan of $408k and the house is worth $310k (excellent condition though)....our payment has spiked from $2300 to $3400 a month and we can't meet the high payment without depriving my family of education, etc.

I'm behind by one month and have already started receiving non-stop calls from my mortgage company.

I'm thinking of these 2 options:

i) Call up the company (only one missed payment and good credit of 750 currently) and see if they can re-term my loan
ii) Plan to move out into a rental house or something

For i), has anyone ever got lucky in that the bank took pity and re-termed the loan?

Any other options. Greatly appreciated. This is almostl ike a bad dream except there's no waking up :-( :-(.

My and my familys lives will never be the same. I hope I die in a car accident so my family can get my insurance money ($450k) and at least enjoy their remaining lives!

Thanks for any tips/assurance.
A wretched Soul
Follow Ups:

Subject :
Foreclosure Listings
Map Search
  • Map Search
  • Click on the map to search by state and county, or enter a Zip Code then click "search".

Resources
Investing Articles
Assistance