My Country Wide Story

[Mike]

Hello all, My story is not unlike a lot of the stories that I have read here on this forum. My wife and I refinanced our home 2 years ago to open a business that we had to close the doors on in 07. My wife became ill in November of 07 and left her 6 figure corporate job as well because of it. In Feb. of 08 my 6 figure corporate job was cut. We owe $648,000 on our ajustable loan at 9.5%. It is set to adjust in Jan. of 09. Current payment is $5,450 per month not including escrow. Home value has not increased in the two years and infact I am sure that it has droped from the $725,000 appraisel done in 06. I have been out or work since Feb. but I have a new position that I am looking to start in May but at a greatly reduced salary or $85,000 per year with a take home of 4100 per month. And rental property in New Orleans at $1400 per month. April will be the first month that I have missed a payment. I am now attempting to a loan modifiaction with CW and of course I have been getting the run around and basicly told I do not qualify. Since discovering this forum I am going to become more pro active starting with the QWR and the phone call and fax campaign. I will keep you informed of my progress and would appreciate any advice, thoughts or expectations you all can provide along the way. Thanks RS