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



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,

Ask Kate how to get the best mortgage rates
Ask Kate



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



Riveting Fixed, Hybrid, and Adjustable Rate Mortgage Help

Comparing Fixed and Adjustable Rates - Refinancing? Buying a house? Get current rates right here.

Get the lowest payment with this best fixed rate mortgage plan yet pay it down quickly.

The 15 year fixed rate mortgage will save thousands plus you'll be mortgage free after 180 payments!

What would you do with an extra $87,789? Meet the 20 year fixed rate mortgage.

Introducing the 25 year fixed rate mortgage combining security with a lower interest rate.

I crown the 30 year fixed rate mortgage King Of Mortgages!

Meet the 40 Year Fixed Rate Mortgage when fast mortgage pay offs aren't your cup of tea.

Are adjustable mortgage rates good or bad? It depends on your circumstances.

Plan for changes to your adjustable rate mortgage.

If the cheapest fixed rate mortgages will save you money, why pay for more?

Are interest only mortgage loans hidden adjustable rates?

Ask Kate About ARMs - Get an answer about mortgages that adjust.

ARM Ask And Answer - Questions about adjustable rate mortgages, each with a individual answer from Kate.



Return from to Get Your Best Mortgage Rate


Click here to add a comment.

You can also ask Kate about your mortgage at How to Improve Your Credit Rating with Amazing Success.

Recent Articles

  1. Kate's Mortgage Rate Report August 11: Rates Bouncing Like a Ping Pong Ball

    Aug 11, 16 10:49 AM

    Kate's mortgage rate report for the week ending August 11, 2016: Rates Bouncing Like a Ping Pong Ball
    Mortgage interest rates have been bouncing like a ping pong ball: After last Friday's strong job report began pushing up mortgage rates, the market is now hinting at a reversal, with the 30-year hover…

    Read more

  2. Ask Kate how to avoid unauthorized mortgage rate extension fees

    Aug 11, 16 10:18 AM

    Ask Kate how to avoid unauthorized mortgage rate extension fees
    Ask Kate how to avoid unauthorized mortgage rate extension fees:

    After locking in her rate, the bank sent a Texan homeowner, Laura, notification of several thousand in fees that she must pay in order…

    Read more