Tag Archives: arm
- Do You Think Credit Counseling Can Help? – Frank
“Dear Steve, Enjoy, your site, been reading it a lot the last few weeks. I have about $70, 000 in unsecured debt. Owe $22,000 on the car. House that was worth $240,000 is down to $205,000, but I owe $198,000. I got a ARM, loan about 4 yr ago, sounded to good to be true. [...]
- We Are Stuck in a Home in a Neighborhood That is Turning Into a Ghetto. – Lisa
“Dear Steve, As of today, 4k in money market savings, 2k in old mutual fund, 70k with TSP. Pay off credit cards every month in full. We have two debts, one student loan at $117/month and our townhouse. 10/1 ARM LIBOR will reset in 2015. 310K at 5.75%, with $296k left owing. 2nd mortgage of [...]
- Single Mom Does Not Have Enough Left For Groceries. – Laura
“Dear Steve, I am a single parent who put my children through college, and now am $140,000 in debt with credit cards and student loans. I don’t have enough money left for groceries after paying bills. My home needs to be refinanced this year because my ARM is up. Will I be able to refinance [...]
- My Wife And I Are Teachers But Our Finances Are Failing. – Jon
“Dear Steve, My wife and I are both teachers. I just lost my job. We have a $310K mortgage on a home that is only worth $250K. The mortgage is a five year ARM that changes in December. We have about $45K in credit card debt and a $40K student loan. We can only make [...]
- My Mortgage Left Chicago on a Train at 9 AM Going 52 MPH. – Rick
Rick “Dear Steve, Bought a house for 325k, four years ago on an interest only arm loan of 256K, as well as a second mortgage for balance to avoid PMI (this second seems untraditional as it has a balloon payment of 45k due in 2020). This loan is a non Fanny Mae or Sally Mae [...]
- We’ve Got a Pay Option ARM Mortgage That is Killing Us. – Bill
“Dear Steve, My wife and I where pursuaded by a friend in the mortgage business about four years back to refinance into a pay option ARM in order to help us pay off some of our other debt and now this mortgage is killing us. Our credit card debt is all but gone, however the [...]