|
First step is to not spend more money. Refi companies and banks are all about fees, so stay away from them as much as possible.
Who is the mortgage held by and who is servicing it? They should have programs for loan work outs, also called loan modifications. The biggest thing you need to do is to start by cutting costs anywhere you can and make the house bill #1. Credit cards, car payments, and all other crap come AFTER having a roof over your head. Let the credit card companies call, what are they gonna do? repo the t-shirt you bought two years ago? Mortgage is #1 almighty
A lot of what will make the difference is the equity situation in the house. If the loan is upside down and the appraised value is below the mortgage amount it make refi's nearly impossible.
Shoot me a PM with some details and I will see if I can think of anything off the top of my head to help out. One thing you have working to your advantage right now is that banks don't want houses, they are tripping over themselves to figure out ways to help anyone with even the slightest positive cash flow potential.
|