[Yahoo Girl]

...situation, loan mod, short sale, foreclosure? I bought the property in April 06 for $294k. I have a 80/17 Calstrs loan from Countrywide at 7.25% fixed rate on both. The second loan is deferred for 5yrs. and will about to kick in a yr & 1/2. I bought the property as primary residence and my mom is my coborrower. Initially I intended to stay in the property for 3 yrs and have it refinance to a lower rate before that so I can keep it as a rental property after 3 yrs. I had my sister as a renter and had the possibility of OT pay in my previous job but things changed as they changed me to salary then recently moved into a different job in January this year. I have been supplementing my deficit with credit card and debt to income ration had increased. I am looking at possible options that will alleviate me from the situation especially when the 2nd loan will kick in and add another $500 to the mortgage.Currently, the property is valued as $170k (based on the current market value from comps) however, there are several units in the same complex that have sold for $100 -$120 and there's a couple that are in the market for $120-$140k. Countrywide is not entertaining any of my calls for loan mod because I'm current and Ieven if 've been telling them for months since August of last year that I'm having problems with my finances and have asked them if they can do something about it. My worst fear is that since my mom will be retiring early next year and is my coborrower. If they will garnish her pension or any other bad impact on her or mine just in case I foreclose.Please advise on what you would do if you were in my situation.I'm getting different information about CA laws regarding recourse and non-recourse loan. My loans were used to purchase a primary residence and they were acquired at the same time with the same lender and I have never refinance nor did any home equity line of credit from it. Does that mean it's non-recourse?