I am a single parent of 2 boys, I build my first home through an FHA loan about 2 yrs ago. My mortgage was a little over 1k which I was ok with at the time. About 6 months ago I rec'd a letter from my mortgage company (bank) stating of an increase of $300 on my monthly payment due to a shortage on my escrow to cover my insurance. At that time I accepted it BUT now a few weeks ago I rec'd another letter stating the same thing (shortage on escrow etc.) my payment will now be raised $500.00 more!! I have a fixed rate at 6.5% and I cannot pay my insurance seperate due to the fact that I have an FHA loan. I don't know what to do at this point; I still have a vehicle payment as well as the regular utilities. I have no cc payments (lol, can't afford to have any). I want to sell but I know its not easy right now. Any suggestions or help would be greatly appreciated! At this moment I don't have the desire to own a home ever again! Please help!!!
Need advice with financial matters on home!?
- Thread starter txgal
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