Here is my story.....First mortgage with Bank of America, $928 a month, second mortgage with GMAC $900 a month. Second mortgage is a 14% interest rate. We owe a total of $165,000 on both mortgage, house is now worth $148,000. Can't afford our totally monthly payment of $1828 a month. Ask for a loan modification on our 2nd mortgage since the interest rate is 14%, filled out the hardship paperwork, was declined stating we made enough to pay our mortgages, that is true IF we don't eat!!! We are current on both mortgages, basically have been paying our bills but have nothing left over for necessities. Have called GMAC a million times, get transferred a million times, and speak to people that act like they don't know what end is up. The only option they gave us is a forbearance for 3 months, but that won't help us in the long run. We are so close to saying the heck with it and just doing a foreclosure. Wanted to know if anyone had any advice as to what we should do? Thanks!