Open Question: Is a short sale or refinancing my mortgage a better option due to an i

[Administrator]

I am a single parent (1 child) and I bought my first home in May 2007 and lost my job after only working at my new employer for two months (May-July 2007). I returned to my old employer in September (which is 55 miles away-one way!). Needless to say, I fell behind in my mortgage payments. I worked with Loss Mitigation, which took them several months to respond. The agreement was initiated in March 2008 that FHA would loan me approx. $8,000 w/o interest, and I would pay them the $8,000 when I sold my home.Due to my long commute (three hours round-trip, under normal conditions), I had to incur an additional expense in March by getting another car. I didn't have a car note before. I now have higher car insurance and the price of gas sky-rocketed!I only have the weekends to run errands, etc. A second job doesn't seem feasible. My day starts at 4:30 a.m. and ends at 8:00 p.m. some evenings. I've fallen behind in my mortgage, again. I'm ready to move closer to my job!I love my job/employer. Changing jobs isn't an option.

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