Thanks for your plea! You are just one of many consumers that are becoming aware of the credit crunch that affects your financial health. In particular, falling behind on your mortgage can become a slippery slope (risk of ruining your credit and getting your home foreclosed on) If you have equity in your home, I'd highly suggest trying to refinance your home and payoff the debts and also get back current on your mortgage. I can tell you that with delayed mortgage payments (and an impaired credit rating) it might be very difficult to get a refinance.
The only way to determine whether or not you will qualify for a refinance loan is to apply for a loan with several different lenders and/or brokers. Not only will these mortgage professionals be able to tell you whether or not you currently qualify, but if you do not qualify, they can tell you what aspects of your financial situation are causing you problems, and make suggestions about how to improve your chances to qualify for a loan. They may also be able to direct you to other available resources available to assist you in saving your home.
If you would like to read more about mortgage refinance loans, I encourage you to visit the Bills.com Home Refinance Resources page. Enter your contact information in the Bills.com Savings Center at the top of the page and we can have several pre-screened mortgage brokers contact you to discuss the loan options available to you.
If you find that you do not qualify for a conventional refinance loan, you may want to consider selling your home. While I know that selling the home may be an unpleasant thought, selling the home on your own terms is certainly preferable to the possibility of losing the equity you have worked to build in foreclosure proceedings. If you think that selling your home may be the best course of action to take, you should speak to a real estate broker to determine the current prices in your neighborhood and whether or not selling your home is a wise decision under current market conditions.
While I encourage you to explore your options regarding refinance and the possible sale of your home, you should also contact your current mortgage company to discuss any assistance they can offer you with your mortgage payments. Many mortgage lenders will assist borrowers, especially those with extreme financial hardships such as yours, with bringing their loans current.
If no refinance is possible, you should look into other debt consolidation options.
I hope this information helps you Find. Learn & Save.