Tag Archives: hud housing counselor

We Are Out of Cash And Behind on the Mortgage. – Mike

“Dear Steve, I am delaying the inevitable but soon must address my circumstances head on. My cash reserve has emptied and now must face what I’ve delayed for peace of mind the last year or so. I am slightly negative on 1st mortgage. I am extremely negative on equity line of credit and see no [...]

We Got 100% Financing On Our Home But Once the Loan Adjusts We Won’t Be Able to Afford it. – KC

KC “Dear Steve, My husband and I have a 5/1 Adjustable Interest Only loan, as well as a HELOC loan because we did 100% financing. I’m no longer working (staying at home with new son), and my husband’s salary was recently cut 10%. We’ve given up a few luxuries (cable tv, saving for retirement, etc) [...]