Losing our home in Las Vegas

[Joel Fraser]

Hi Everyone I'm new to this whole posting a thread thing so please bear with me. My husband and I bought our first home in 2005, I was 5 months pregnant at the time, we knew we had an a.r.m however it wasn't explained to us exactly how an a.r.m worked or how much it was going to go up. Also we were extremely naive. We have tired everything we possibly could to try and keep our house we did the loan mod with ASC and was denied and was told that they had no options for us(that was in the letter they sent us). We even asked about deed in lieu of foreclosure but they told us that our home would have to be on the market for 6 months before they would of even considered it:eek: and by then we would've lost our home to foreclosure anyway:confused:. So we try project lifeline and hope now they couldn't help us cause the only debt we had was the house and our two vehicles. We even called the district attorneys office to see if they could help us out, he did tells he knew about ASC and that there was a law passed here in Nevada and Arizona that if after they foreclose on us they have 3 months to come after us and if they don't they can't but we can't rely on if. So before it was too late and our credit was completely trashed because of this we went and found a home to rent now I'm completely scared as to what is going to happen to us we're trying to find out if we qualify for the mortgage debt forgiveness act of 2007 or do we need to file chapter 7.