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I am in an ARM and it is about to shoot my payments from 1800 to 3500 a month and I have called the bank for a refinance and I was told that the house was worth like 25000 dollars less than what I owe, the the bank is owed 477,000 I can pay 2500 to 2700 for a 30 40 or a 50 year loan.
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We are currently working with this homeowner and we are pushing for a term extension that will reduce payments. We have had success at the loan modification with a term extension. We have a very good relationship with Chase stopping foreclosure.
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