Wells Fargo 1st/2nd (1st adjusts Sept 2011)

[Joel Fraser]

This is really an amazing site. I felt like I was alone and quite frankly was embarrassed to discuss our predicament with anyone. Well here's my story and any help that can be provided is so appreciated:Our first is $312K @ 6.25% and will adjust Sept 2011 our second is $51K @8.49% total amount of note is due 2016. A couple questions, is it too early to start the loan modification process with Wells Fargo? I know when it adjusts we will not be able to afford it since we are living on one income at this point. We do have $10,000 in rainy day money does that make a difference? We would like to modify the first from an interest only to a fixed is that possible? Where should I start or should I wait?Would I be able to qualify for the Bush, bill but it sounds like I can't?I feel queasy every time I think about the loan adjusting. Help :)