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“Dear Steve,

I own a home and i am at 80% so finding it hard to refinance my home with my current debt.

I owe 24,000.00 in debt and dont want to file banckrupcy. i need help and cannot afford to pay for a service and dont know who i can trust

Kathy”

Dear Kathy,

You picked the wrong time in the history of man to try to suck cash out of a house with an 80% LTV. These are not the days of high flying, low logic mortgage lending. These are the days of being extra careful.

If you can afford your regular monthly payment on your debt then think about contacting a debt management company to see if they can lower your interest rate. It can impact your credit.

If you can’t afford your monthly payment then go talk to a local bankruptcy attorney, for free, about a Chapter 13 repayment plan. This will allow you to keep your house but repay your debt based on what you can afford.

I know you said that you did not want to file bankruptcy but sometimes you don’t get what you want, you get what you need.