Q&A: Mortgage refinancing troubles, facing bankruptcy?

Question by Pete: Mortgage refinancing troubles, facing bankruptcy?
I have a first mortgage of 149,000$ Adjustable at 9%
I have a 2nd mortgage of 20,000$ fixed at 9%

The latest appraisal info on my house is an estimated 165,000.

What are my options? My first mortgage is currently 7.5% but it goes up to 9% in 1 month.. No one is willing to finance me because of there is no equity to work with.

Any help would be appreciated, currently I am NOT behind on any payments and I can keep them up for a few months after the adjustable goes up, but after that I will start falling behind.

thanks
Mine and my wife’s credit score are both around a 650.

Best answer:

Answer by Tim
Check with the current lender, they might be willing to convert to a fixed rate or even combine the two loans.

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