Hi, Looking for advice on my situation.
I have a 90/10 mortgage (BofA/Green Tree) on my home purchased in 2006. I owe $323K; the home was recently appraised at $265K. My monthly mortgage payments are ~25% of my gross monthly income. I am interested in a loan modification due to hardship (business failed in 2010, student loan repayment to begin in 2012). My net disposable income is currently negative and I have been depleting savings for awhile. I haven't missed a mortgage payment - yet.
Can't Refi because underwater. Can't HAMP because under 31%.
What CAN I do?
Thanks for any insight!