Hello, new to the forum and wanted to say there is a wealth on information on this great website!
My parents have 2 houses, residential and investment. The citimortgage property is our residential. My dad has retired(unexpectingly) and now has to deal with the mortgage. So far he is managing to pay the mortgage, but nonetheless it is high. The property is not underwater and has plenty of equity. I tried a loan mod and we kept getting the run around, they basically want us to default which will ruin my parents credit.
Is there a way to force a loan mod without becoming delinquent? Another option was to refinance, and I am not sure we would like to go this route as it will extend and add to the balance of the mortgage.
My parents truly want to have this paid off soon so we can have a secure place to live if god forbid something happens to my folks.
Any advice would be greatly appreciated.