PornMD

I'm considering going through one or both of these processes and was wondering if anyone else has and what your experiences have been.

Regarding mortgage mod, I'm getting the feeling that it's rare to be "given" anything but rather the mortgage gets restructured and your payments go down but over time you're paying more or something. My 2 probs are that my loan is already a good one (5.25% fixed which was amazing at the time I got it) and despite 20% down and over 2 years or payments, I'm still underwater on my mortgage...like about 20-25% of the remaining principal due on it is above the value of my condo. It's like if this horrible economy happened but house prices kept doing what they had been, I'd probably have $100k+ equity in my condo right now and could just refi, problem solved.

I'm ALSO considering doing debt consolidation but kind of afraid to because I thought i once had heard that it either lowers credit score and/or it hurts your ability to get loans/more credit. Would like to hear others' experiences with this too. Would make sense given the amount of CC debt I have which is 20%+ interest somehow despite my cards originally being single-digit fixed rates, fucking CC companies .

My main thing is that in the business I'm in, I need money to really be able to make the money I need to make (I'm maybe able to take advantage of only about 10% of the domain deals I find on a regular basis due to lack of money) and while I get bursts of sales here and there, I'm forced to choose between holding it to pay for a few months of mortgage/bills or gamble on purchases I know are good deals in the hopes I resell in 2 or less months in this shitty economy - tall order. Wouldn't be much of an issue if I could get credit and I DO have a solid credit score despite my debt but because of my debt it doesn't seem to matter.

Anyways, would just like to see what experiences people have had with this stuff and if it's really worth going through.

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