question

[pitapocket]

I have a first and a second on my primary home. The 1st is $417,999 30 yr interest only which resets in 2017 and the second which we have to pay off in 2022. The second is a balloon for $37,000. I got in this position, since we wanted to invest in a house and at the time seemed like a great idea. We used the equity from the primary home to purchase the second house. The plan was that we would sell the primary home and then move to the second home. But we did not sell fast enough and now left holding the bag.

I have been trying since February to get help with this loan. I do not know what direction to go. I have sent my paperwork in February then April and June as Bank of America requested. They have not sent any letter but when we call they say we do not qualify for anything.

Is it because the loan resets in 2017 and not now? Or is it because
it is a 30 interest only loan? This loan was written by Countrywide.

I am not sure what to do. Can't use NACA because I have a second home. I was renting the second home but now the renters left. I do not want to sell it right now because it probably won't get me anywhere at this point. Income is not good due to huband on disability with limited abilities and I work but it all goes to the house payment with it short by $700.

Anyone have some suggestions on what direction I should go?