Can’t pay higher home loan payment but willing to sell?
My interest only loan rate is jacking up a ton in a few weeks and I’m working on refinancing right now. My credit rating is 618 and the refinancer is still looking at options but I have a feeling it’s not going as smoothly as possible. I want to prep myself for the worst. I’d like to talk to my bank and ask them to work with me next month and I’ll speak to my real estate agent next week and start putting my place up for sale. If there are any bankers out there, what are my options with the bank? What do I say to them? How do I go about this? Can I get a reprieve until I sell my place (I’m going back to renting for a while)?