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Need new loan maybe?

This is a topic titled Need new loan maybe? made in the Home Mortgage section, belongs to our Mortgage Chat category; I sold my home to my sonthe first is a 5 year arm withvery low rate so i hold the firstthe second is at 7 somethingwith Countrywide a intrest only ...








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Old June 23rd, 2008, 02:18 PM   #1
Joel Fraser
Senior Member
 
Registered: May 2008
Posts: 907
Default Need new loan maybe?

I sold my home to my sonthe first is a 5 year arm withvery low rate so i hold the firstthe second is at 7 somethingwith Countrywide a intrest only for 5years. (both our names are on this Loan)the rate on my first goes to 7% in Oct ofthis year.he moved back to Mesa and told me he didn't wantthe house any more. Meanwhile I have bought anotherhome and cannot afford the $1900 paymentson this one. what can I do? he left me with the countrywide loanpaid up but the Citi loan is almost 3 months past due help Mike in Arizona
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