Loan Mod Citi

[Mike]

We purchased our home a few years ago for what I thought was under valued; refinanced a few times and now find myself in a payment I just cannot afford. By the time a pay all the bills childcare and such, I just come up short each month. Not to say we can’t cut back anymore but you can’t stop paying the babysitter because you can’t work unless you bring the kiddies with you. Including taxes, my payment is 2156.00 a month. We take home 4885.83 per month between the two of us. I work my wife works and we honestly want to stay in the house but we work and try to pay our bills and raise our kids. I just completed school and will be saddled with school loans coming this October I am getting scarred. I have a job and a real good one for my age but a BK is not going to look good for a promotion opportunity. I am ashamed I did this to myself. I know my debt ratio is well over 55 maybe higher when you factor in the student loans.