Can anyone help us?
My wife and I are in trouble. We have two commerical buildings with more than 50% equity (good), and it is SBA loan. Our home was purchased for 211,000, and first mortgage at 5%fixed at 160,000. BIG MISTAKE IS OUR HELOC with 50,000 balance adjustable, and payment just doubled to the point we can't pay it. We are not paying a few of our credit cards (we havent' charged in 4 years, but that was our downfall!) We won't be able to make it! Our credit has gone from good to bad, our lender won't combine the heloc with our mortgage, WE CANNOT DECLARE BANKRUPTCY! My wife would probably loose her very good job. If we could only find a way to combine our heloc with our 1st mortgage, or reduce our heloc payment (which they will not do), we would be fine. The huge jump doubling our heloc payment is going to kill us, there is no way we can pay it, any ideas for help....... PLEASE!?