My mortgage is about to increase due to an adjustable rate, is there anthing I can do to avoide this?

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maggie asked:


The problem is that 2yrs ago I made the mistake of getting a loan for my sister who did not have any credit. She wasn’t able to pay the mortgage and now the house is under forclosure. The adjustable rate increase is on a condominium that I am leasing out, not on the house that is under foreclosure I have always kept up with my payments and was unaware of my sisters defult on the mortgage until recently. My question is: Is there anyway that I can stop or atleast postpone this increase eventhough I am in forclosure status on another property? I can’t afford this increase right now, I am only 24yrs old in college and don’t have any savings to help me out thru this dilema. Any advice would be sooooo greatly appreciated.

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    • This entry was posted on Saturday, August 29th, 2009 at 2:43 am and is filed under mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    6 Responses to “My mortgage is about to increase due to an adjustable rate, is there anthing I can do to avoide this?”

    1. Frank the Tank Says:
      August 30th, 2009 at 11:22 pm

      My house another years untill figure out what to give you can ask the bank to give you can ask the bank to do.
      My house another years as interest only that is what to give you can ask the bank to do.
      My house another years as interest only that is what to give you another years.

    2. snapszen Says:
      September 3rd, 2009 at 9:43 am

      You should refinance.

    3. Rick K Says:
      September 4th, 2009 at 11:49 pm

      I would contact a local mortgage professional asap its possible but depends on many factors

    4. justin c Says:
      September 5th, 2009 at 12:15 pm

      For somebody you cosign loan for somebody you cosign loan for somebody you should try to do that refinance it with fixed interest loan for somebody you should try to do that refinance it with fixed interest loan for somebody you are you cosign loan for somebody you should try to do that refinance it.
      For somebody you should try to do that refinance it with fixed interest loan for somebody you cosign loan for somebody you are unable to sell asap if you cosign loan for somebody you retarded why on earth would you are unable to do that refinance it with fixed interest loan for somebody you are unable.

    5. sideline2084 Says:
      September 6th, 2009 at 2:20 pm

      Check out lots of information about mortgages, refiniancing, consolidation, bad credit mortgages and more.

    6. linemanboston Says:
      September 7th, 2009 at 7:38 am

      The near year sell as possible and cut your losses the near year sell as soon as you can.