30 years fixed rate mortgage, but ins and taxes are killing me. Any advice?

In June 2006, I bought a house with a ready 80/20. The 80 and 20% is@6.65 is 8.1%. These rates are fixed for 30 years. I also gave $ 9K nearby, including costs. My insurance and taxes are escrowed and my mortgage payment to Wells Fargo. I live in Miami.Der the price of the house was $ 229,500, but the value is $ 185,000 according to Zillow.com and sinking!. My first mortgage payment of $ 1,800 / month, but jumped to $ 2,232 / month, I deliberately avoided because of possible increases in the arms, but even a fixed rate still increased by taxes and insurance Hat! Anyone have experience? How did you cope? I can not refinance because I have more than what the house is worth now have. In addition, it is not really blame the banks, the community and Staaten.Ich can probably apt. the size of my house for $ 1,000 less per month (probably with a sea view). I am seriously considering running. Is that a foreclosure affect your credit? All advice or ideas? Last year, the tax and insurance was about $ 3700.Kann I afford the payments, but I did not anticipate an increase of $ 400 per month in less than 3 years. And he disappeared each year. I have no reason to believe that it will stop. At some point I will not be able to claim this leisten.Ich an increase in my current environment, and what I planned for? Fixed fees were only $ 3,055 for 2008.

Register New Account
Reset Password