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Basic cost of living is more than they are bringing in. they can't do any more. what advice do you have for those folks? how do they plan for their retirely or their future? >> what you have to do, the first item is where are you now? you know, if times or great or times are bad, you still are where you are right now. so it's even more important, go online, type in the words household budget worksheet that you just referred to. use the one you used last year n. january, you are going to get your year-end or december statements for everything you have -- credit card statement, mortgage statemen...

Remember, when you refinance, even if you are going from a 20- or 30-year loan to a fen-year loan, you are restarting that term. so if you had a 30-year loan and hu12 years left, even if you refinance to a 15-year loan, you are going to be paying, including interest, for 15 years, rather than 12 years. with each monthly payment, you pay down a little bit of principal. so you are paying less and less interest. but at beginning, you are paying the highest rate of interest, so it could be three or five years before you make a dent in the principal. but in terms of financing, if you have a fannie ...

Value of the house. the house that i live in is 100 years old. there's some great stone, wonderful woodwork. i paid about $180,000 for it some years ago. and to replace it, brick by brick, stone by stone, would cost about a million dollars. wells fargo said, all right, you're going to have to carry a million dollars worth of homeowners insurance. and i said there's no way that i would do that. and they said, well, if you don't do it, we're going to do it for you and i said you're on. so i refused to renew that policy at a million dollars and they did what's called force placing insurance on my...

Your income, so about 30 days ooze worth of your income, but if you're self-employed, about six months of income, but you also want to bring the mortgage statement so they can see who your servicer is, and the monthly payment. you also want to make sure they have information about the property, they know exactly what the property taxes are, and can get all these things together to help you modify that loan. >> tell us about that guy in the piece, and how that worked out for him. >> it's amazing, you know. they're really restructuring these loans for people. that's the key, to be able to restru...

Pay stubs and if you're self employed you want to provide six-months of income statements and bring that mortgage statement to see who your servicer is, how much you owe and the monthly payment an enthat's going to help them work those things out and you want to make sure they have information about your property, they know exactly what the property taxes are and they can get all of these things together to help you modify that loan. >> tell us a little bit about that guy in the piece and how that worked out for him. >> it's amazing. you know, they're really restructuring the loans for people ...