Homeowner Needs Fixed 30 Year Mortgage

by Sandra
(Corona, CA USA )

Regarding Homeowner Needs Fixed 30 Year Mortgage: Hi Kate, I borrowed $412,000 with a negative amortization mortgage loan two years ago. I now owe $441.000. But my home is only worth about $289.000. I lost my job and I am now self employed.

What should I do? Sandra

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Kate Answers: Homeowner Needs Fixed 30 Year Mortgage

Dear Sandra, Because you owe more than your home is currently valued, this is being described as "under water" today. Declining real estate values are contributing to this frustrating and increasingly common experience.

Have you considered a mortgage loan modification? Mortgage loan modification programs are helping other homeowners in similar situations. You do not have to be late on your house payment and for a small fee can learn how to handle the paperwork yourself.

There is another option of hiring a mortgage loan modification company to do it on your behalf but this costs at least $1000 and higher.

To help you decide, go to Mortgage Loan Modification and you be the judge of the benefits.

To see how a fixed 30 year mortgage can provide stability by paying off your mortgage, visit 30 Year Fixed Rate Mortgage. The fixed 30 year mortgage is truly the King of Mortgages.

I wish you the best of luck and hope you'll come back to my website again in the future. So remember to bookmark Get-Your-Best-Mortgage-Rate.com to your favorites and visit often for up to date tips for buying a house, mortgage news and refinancing advice.

You can also invite friends to comment on this page or create a page of their own like you did.

Best Wishes,

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P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

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