[caltrans2002]

...towards foreclosure? I going through a rough time financially, can I request the bank to lower my interest rate - to reduce my payment - to avoid foreclosure? What other options can the bank offer to avoid foreclosure? I can't/don't want to refinance since I do not have the money and don't want to get into further debt?

[dlmrgnk]

If you can get your lender on the line, tell them exactly what is going on. That may be quite a trick since many mortgages were sold to others and they sold them to others. It's too bad you don't owe billions because then the Bush, McSame, Poulson crowd would be happy to stuff your pockets with untold amounts of money.

[cookiesmom]

depending on where you live there may be some options for you...you may be able to get a deferrment of payment where they will take one or two of your payments and put them on the end of the loan....if you live in any of our newly declared disaster areas then you may be able to request a mortgage moratorium which allows you 90 days to not pay your mortgage (interest still accrues) however in some instances you are still required to catch these payments up once the moratorium is lifted....(stupid i know)...otherwise there may be other options they can offer you ...i would try the first option from the get-go