balloon home loan maturing. Options?
Our home loan matures the end of this month& we plan to meet with the lender next week. We want to go in prepared & aware of our options. Our income has decreased since we first took out the loan. We were late on the homeowners insurance & it got cancelled. There are rrpairs needed on the house so insurance agent may not insure us. Would like to keep bank from knowing that until we do repairs & get insurance back. My husband is 53 & I'm 43. Since we've been to the bank we have both lost our jobs but my husband is now disabled & its his check we live off. We are trying to sell his wprk truck - a delivery truck - so we could use that as colleral maybe? I would prefer to not have to pay on this house more than 10 years, less even better. I do want to keep our payments about the same or lower. We've been here about 15 years. We got a paper stating our property value went up so that's in our favor right? Any advice greatly appreciated!