Need home finance help.?

-We bought a house 2 years ago and the owner gave us a 3 year loan interest only. Now we can't get a jumbo loan because my business showed negative, but my husband has a good salary. My question is can the owner foreclose on us? We still have one year to get a loan and hopefully my business will do better for this year. My husband is talking about bankrupcy, but I think I am not going to let that happen. I dont like to screww people. What can we do?As long as you stay current on the last year of your 3-year interest only loan, they can't foreclose on you. You have other options besides bankruptcy if you can't refinance. You could let the home be foreclosed on without declaring bankruptcy. You could sell the home and pay any shortage to the current lender. Or you could try to get refinanced on just your husband's salary - the loan would be in his name alone. Or you could take in a renter to help cover the cost.