House Loan 240K Zillow Estimate 224K Morgage $1850 /mo Income: $2700 /mo Home Bills: $1450 /mo -600 in the red every month. So my story goes like this. I bought a house in 2005 with my mother on the deed. What a mistake that was. Little did I know she was going to quit her job and retire. So now im -600$ in debt every month and I have to go to food pantries to eat. My mother says its her right to retire and live in my house for $250. Ive been pulling my hair out the last year borrowing $$$ and racking up credit cards. Im at my wits end and called GMAC for a loan modification. I filled out the paper work and sent it out with delivery confirmation. Now heres my question according to the Payment Reduction Estimator New Monthly Payment If You Qualify $ 961 how can that be? 50 year loan? whats the best outcome to my senerio? Honestly I think I should just bail out and take my 7 years of bad credit. Ill give short sale a try, especial if I don't have to eat it on the taxes. ---fed up oregonian!