I owe more than the value of my house and have no equity where can i get for help in refinancing? ?

Kirstin
I have a 2 yr fixed loan that will change to ARM next year, and my payment will go up. I may not afford the payments anymore and might lead to foreclosure.

Crystal
I think you will have to wait and see what type of programs the government comes up with to help people in your situation. The banks almost certainly won't finance a negative equity loan at any interest rate, let alone a good rate. Your ARM probably has an annual interest rate cap so sticking with your present loan until the financial markets stabilize or the government steps in may end up being your option.

Man
Have you looked into a peer to peer lending website like lendingclub.com or prosper? These are websites with people like you in mind. Ordinary people that have a hard time getting a loan from a traditional bank or simply don't want to pay interest and fees to Mr. Mega-corporation now asking for bail-out money. When was the last time one of those banks offered to bail you out of a jam?With sites like lendingclub and prosper you'll submit a request for a loan and ordinary people will bid on the loan and together they will create a loan for you using the money from individual investors pooled together. You can even express in great detail the purpose of the loan and how you plan to use it and be able to repay the loan.The length of these loans are 3 years with a maximum loan amount of $25, 000Look into it & Goodluck on your own turn-around story.

Kimberlie
Why did you sign a loan like that? And why will it necessarily go up? Isn't it tied to prime which has gone lower and lower.

Particia
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