My wife and I are self employed. I'm a building contractor and my wife is a Realtor in California. We are basically unemployed at this time. We own 7 different properties, 5 of them are rentals. They do not all pay for them selfs. In this market we would loose too much money if we try to sell any of them. These were going to be our Retirement money, college money etc. Last year I build a Spec home, it did not sell so we were force into moving into this home and renting our home. On our home we rented we have a Countrywide loan and Equity money from Bank Of America. For over a year we have been living off of equity money or credit card money. This is ruining out!
We are not sure if Countywide would give us a loan modification on our previously home now rental? Can anyone give us any suggestion on how to go about it?
Thank you, Tag442.