I was referred to you by an associate who listens to your show. I am seeking some advice on my present situation, I am currently in an 80/20 ARM mortgage, and the second mortgage of 25K will balloon in July. I owe a total of 140k on the house, the taxable value in 2011 is 110,000 and the realistic market value is probably closer to 95-105,000. I am essentially paying rent. My mortgages are held by Us bank and Bank of America and are privately secured (non freddie or fannie) due to my loan to value ratio Us bank who holds the majority of the balance is unwilling to refinance the loans (for obvious reasons) and I fear I am out of options. I want to make good on my commitment to the banks but on the same token I am currently commuting long distances to work and finding something closer would save me lots of money in fuel and vehicle expense not to mention the e extra time I would have with my family. I hear lots of talk about short sales these days and of course the dreaded foreclosure. My credit is in good standing and I am leery of doing anything that would damage it. If the bank would just refi the loan to a fixed rate I would be happy to continue paying it and rent my property out after finding another one closer to my work. Any advice you can give me is much appreciated. Thank you.