My home loan is in default again, what can I do?

This is the second time. I'm a single mother of three and thought buying a house would be a great idea. Now I'm stuck with a high house payment and an almost 100 year old house that seems to be falling apart. I really don't have the money to fix it up and can't seem to keep up with the payments and bills. Refinancing is out of the question, with it being in default now and even just before I was told my rates would actually go up about 3%. I don't think I could sell it for as much as I paid for it and I've only had it less than 2 years. Also I have a second morgage from the seller which is behind. I'd like to just walk away from it and let them take it but I don't really know what would happen. I just can't keep it up. Please if you know anything about this give me your advice. I really don't want to have to contact %26quot;this agency%26quot; or %26quot;that agency%26quot; or anything like that though. I don't like the house, area, or school and just want to get away from it all as soon as possible.

My home loan is in default again, what can I do?

Okay, as a lender, I can't believe I am saying this but it really sounds like you got a sour deal. There are laws that protect you against lenders that give loans without regard to your ability to repay, etc. This is called Predatory Lending and you might be a victim. Check out your states Division of Banking and see if there is more information. (I'd help if I knew where you were at). As for being in default right now, I am not sure what to suggest outside of selling or refinancing so good luck with that. Hopefully your state has a good anti-predatory lending policy in effect.

My home loan is in default again, what can I do?

You could walk away, but know that your credit is going to take a huge hit.

My home loan is in default again, what can I do?

Would you consider a roomate? What about somebody doing a lease to own deal with you.. Good Luck

My home loan is in default again, what can I do?

Sorry about your situation. The best route it to put it on the market and make an attempt to sell the home. Also you should call your lender and talk to them. Tell them you are going to try to sell the home. Sometimes they will take less since it's cheaper then foreclosing. If you walk away they will go ahead and foreclose. It will have a major affect on your credit score and will stay on your record for several years. Good luck.