My mortgage lender, Wells Fargo, sent me an application for the Making Home Affordable program – any thoughts?

My husband and I recently filed chapter 7 bankruptcy on everything but our home and car due to him losing his job with zero unemployment benefits for 6 months. It was horrible and we could never catch up with all the crazy over the limit and late fees on our credit cards.

Anyway, I have an ARM mortgage that will NOT adjust until 2014. I have negative equity thanks to the wonderful market. My appx value is probably around k and I owe about k. My interest rate is about 8% but with zero PMI with a monthly payment (with escrow) of 0.

This MHA program sounds like they could get me down to about 0 a month, which would be fantastic. Do you reckon I will qualify? I am 1 month behind on a mortgage payment. Any other advice on this program?

Related Posts

• What can I do about my mortgage?
• Any ideas as of best way to deal with mortgage in a vacant house?
• Best strategy to repay debt / rebuild credit?
• Why is being debt free so bad?
• If I declare myself bankrupt then a few months later get married can they take anything from my husband?

Tags: arm mortgage, chapter 7 bankruptcy, credit cards, escrow, interest rate, job, late fees, mha program, mortgage payment, negative equity, pmi, unemployment benefits