help need advice!!!!

[amarx]

I need some advice I live in San bernardino county Ca. I bought my house 2 years ago next Febuary. Long story short the loan is a conventional fannie mae fixed loan with citi. My house was purchased for 340K, I put 36 down 5.125%. I had a construction job and had part ownership in a limo company. Both went to the dumps a while back, I'm not behind on my payments or anything. I also should say that I have an annuity account that will pay me about 600k over the next 8 years. Now I was told that with a streamline refianance loan I dont need any paperwork for them to redo it (I'm not working yet so thats good for me) What should I do. Should I stay up on my payments or would it be better to let it get behind a little any advice I would greatly appreciate it. I really want a modification as my house as dropped by 100k. But will take what I can get... PLEASE HELP

Should I try the government program I havent heard any possitive stuff just people getting the run around. Or should I just streamline a refi to lower interest rate. Would I even qualify for the governmet program sence im not working. My fiance does but shes not on loan and I have a roommate and about 60k in bank!!!

[jakelabry]

Originally Posted by amarx

I need some advice I live in San bernardino county Ca. I bought my house 2 years ago next Febuary. Long story short the loan is a conventional fannie mae fixed loan with citi. My house was purchased for 340K, I put 36 down 5.125%. I had a construction job and had part ownership in a limo company. Both went to the dumps a while back, I'm not behind on my payments or anything. I also should say that I have an annuity account that will pay me about 600k over the next 8 years. Now I was told that with a streamline refianance loan I dont need any paperwork for them to redo it (I'm not working yet so thats good for me) What should I do. Should I stay up on my payments or would it be better to let it get behind a little any advice I would greatly appreciate it. I really want a modification as my house as dropped by 100k. But will take what I can get... PLEASE HELP

Should I try the government program I havent heard any possitive stuff just people getting the run around. Or should I just streamline a refi to lower interest rate. Would I even qualify for the governmet program sence im not working. My fiance does but shes not on loan and I have a roommate and about 60k in bank!!!

What exactly is it you want from a modification? They aren't going to write off that 100k in value. Also, given the 600k in income for 8 years (75k per year) and the 60k in the bank, I don't believe they will offer you anything. You have a conventional loan at a very good rate and the liquid assets to support it - that's how it is going to look to them. Sorry, but ...