Tuesday, October 13, 2009

Here's the situation....

I had the brilliant idea that we would be able to qualify for the mortgage loan modification program. I had birds singing on my shoulder as I thought of the relief that it would bring us. Then someone took their shotgun and blasted a hole through that bird.

We don't qualify.

We are saddled in debt (my fault), stuck at a higher interest rate on our home, and we don't qualify.

We have never missed a payment and I have absolutely no intention to whatsoever. But here is the deal....We will be stuck with our interest rate that we currently have until the real estate market in our area recovers enough for us to refinance. (So maybe in ten years from now?) We put a very HUGE amount of money down on our home and we have since watched that dwindle away with all of the foreclosures surrounding us.

We are stuck.

We are stuck owing more on our home than it is worth because we were unfortunate enough to buy at the very top of the market. ***Sigh***

Now what....

I don't really have an answer for that. The very nice guy I talked to at the bank that owns our mortgage said "You just need to cut back your expenses."

Well DUH!!! I am working on that. And no I don't blame anyone but myself for this problem, but still! Isn't there something that I can do?

On a more positive note I have decided that with every post I make I will share something positive. I don't want to be negative Nelly all of the time! So my positive thing for the day is ........At least I don't have it as bad as the people who do qualify for the loan modification program!!!

Sorry, that was a little uncalled for. Let's see, something positive........Oh,Oh,Oh! I have something!

I have really great hair today! You should see it!

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