How can I lower the interest rate for my home?

you are either paying rent or you are paying on a mortgage.

which is it?

seek a mediator in court for the legal advice.

SEEK a partner to pay off all back mortgage payments.

call some RE firms on this.

what a xmas gift, huh???

Sue your attorney for malpractice. He gave you the worst advice possible.

The only way to get your mortgage interest rate lowered was to take out a new loan with different bank, it is called refinancing.. You have now destroyed your mortgage payment history by not paying your mortgage on time. No bank will now give you a new mortgage with a history of not paying the payments on your current mortgage.

I don't blame your lawyer for not returning your telephone calls. He gave you some idiotic advise, One should never tell a person not to pay their monthly mortgage payment. This goes against the rain of all legal advise one could offer.

If you have not paid your monthly mortgage for 3 months, your chances of being approved for a mortgage loan at this time is not very good..By not paying your monthly mortgage lender for 3 months is shot your credit score .

One of the major things in refinancing a mortgage loan is how well you have paid your current mortgage loan. of course your credit scorer and other credit would be taken into consideration, however, your monthly mortgage payment is a prime indicator as to you ability to be approved for a refinance of your existing mortgage loan.

There is a little confusion about what you said in your statement. You indicated you have a mortgage yet you stated you pay rent. Normally if you have a mortgage loan, you would pay a mortgage loan as oppose to paying rent.

You might consider calling your mortgage lender to see if you are able to arrange a payment schedule for your back payments while paying the your schedule monthly mortgage payment each month

You have a few options in your current situation

#1. Bring your current mortgage current

#2 Refinance you current mortgage (very doubtful at this time) .

#3.Try to make an arrangement where you would pay a certain amount on the back payments, while paying your current monthly mortgage.

#4. List the house for sale, followed by a request for a short sale in the event you are unable to sell the house after a certain time frame.

In order for your mortgage lender to claim your house you offered as collateral for the mortgage loan, they would be required to go through the foreclosure procedures according to your state foreclosure laws. This could take several months for this procedure to be completed. In most cases the foreclosure procedure could be in excess of 3-5 months based on when the foreclosure is initiated.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Too late now but you just found out your lawyer is an idiot. Your current lender isn't going to lower the interest rate. They're getting 11% out of you. And if they foreclose, they really won't lose too much money if any at all.

You need to find a different lender who will work with you. That may be difficult in your situation, but you need to try. That 3 months of payments you withheld should have been placed into savings so that you'll have it, because you will definitely need it.

You don't pay rent when you own the house; you make mortgage payments.

The only reason why you have an 11% interest rate is because you have horrible credit. Hence the reason why you cannot refinance the house. And now, thanks to bad advice from your attorney as well as your poor money management skills, you are going to lose the house.

not paying the note for three months is to establish your basis for a loan modification

this is what your lawyer was trying to get you prepared for, but obviously he is not following thru

the modification or a new loan is your only waty to lower your payments

Your attorney gave you bad advice. How on earth do you expect any cooperation from your lender when you fail to pay ? If you do not pay up as required, expect to see a foreclosure action soon.

Talk to the HARP loan people. It's a gov't program for people underwater on their home loans and with high interest rates.