momof3
Would you qualify for a loan modification on your mortgage? I know you said that your hubby was laid off, but I was just wondering if this is something that you should look into. Lowering the interest rate, or extending the term out to 30 or 40 years could reduce your payment enough that it would not be a burdon while he is unemployed and may give you an opportunity to get ahead once he returns to work. This is something we had never thought of until hubby lost his job. We have cut our mortgage payment by over $1000 a month, we are getting 3 months without a mortgage payment, and about to file bk. Well, something to think about! You could start by finding an online mortgage calculator and run the numbers, lower the rate, extend the terms. See if it makes a difference.
Would you qualify for a loan modification on your mortgage? I know you said that your hubby was laid off, but I was just wondering if this is something that you should look into. Lowering the interest rate, or extending the term out to 30 or 40 years could reduce your payment enough that it would not be a burdon while he is unemployed and may give you an opportunity to get ahead once he returns to work. This is something we had never thought of until hubby lost his job. We have cut our mortgage payment by over $1000 a month, we are getting 3 months without a mortgage payment, and about to file bk. Well, something to think about! You could start by finding an online mortgage calculator and run the numbers, lower the rate, extend the terms. See if it makes a difference.
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