emc hopefully they will modify

[Joel Fraser]

I have 2 loans with emc 1st 7.75% will adjust in 2012 and second with them 14.65%. I just had a baby and I was laid off as a teacher due to florida budget cuts. we are down to one income which is enought to live off of but not at my current 2200.00 payment. we figure we need to be about 40-50% less to live. my loan is bad. we thought we coul refi into a fixed interst loan however the property value has decreased 100,000.00!!!! (for larger homes) we also found out our prepay was 3 years not one like i requested. and the house wouldnt appraise. when i was current on payments i tried to request loan mod papers and was turned down daily. i was current, why would they help? so i missed payments and after 2 missed payments the package arrived!! i filled out the loan mod, however they are only offering me to have reduced payments for 6 months while they work on it??? no!! it only delays the process and shuffles me to the side. i cant afford to have the difference tacked on to the end of the loan. and i cant afford the house unless they modify my loan. i would like a fixed interst rate, i'm not asking them to reduce the loan amount to market rate!! will they help me? i have missed 3 mortgage payments. is help on the way?? will i be foreclosed on? when will i have to move? i want to keep my house, but i will walk away and rent a place i can afford. any advice??? thanks:)