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My Arm has expired
[April 10, 2008] by Foreclosure Help
Filed under: ARM Mortgate payments increased, My Arm has expired

I refinanced my home in March 2006 with an ARM. My ARM has now expired. Although I have been approved for a foreclosure refinance, I cannot refinance because my house is appraising for way under what I owe. I contacted my mortgage company who suggested a loan modification. They quickly denied my request because they state that I cannot afford my new payment, which makes no sense to me. They will no longer work with me and tell me that I have to pay the new payment, which is $350 more. I cannot make these new payments. I am not behind in my payments as of right now, but I will soon be. My next payment is due in four days and I don’t have funds to pay this astronomical amount. I feel like I have no choice but to walk away at this point. No, my situation has not changed. The mortgage company is Ocwen is foreclosing. How can I stop foreclosure on my house? My ARM has expired.

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