Negotiate with the mortgage holder. Long shot, but possibility. You probablly cannot refinance due to late payments - talk to your credit union to see if they are willing to work something out for you instead. They sometimes let the few lates on your credit be overlooked. Again, a long shot.
You could find an investor to do something with, but that’s the longest shot here - the ARM is still in place and that needs to be dealt with first.
Hi folks,
I hope this doesn’t qualify as an ad or solicitation. I’m basically looking for a creative solution to getting out of an adjustable arm, while having back taxes, a lien (or two?)and back mortgage payments due. A gentleman had posted a while back regarding how he did his first deal with his own house, and it got me to thinking. How to stay in our house without refinancing? In a bad(or good) market people are always looking for owners in distress, what if one of those folks snatched up our property and we were able to lease option from the investor? I know there are some brilliant minds out there, any suggestions? Similar experiences?
Cheers.