Adjustable Rate Loan Modification?
Vloz asked:
The lock on my loan has expired and my mortgage has gone up! (obviously) I spoke to my mortgage company and they offered a Loan Modification. They told me that the rate that they come up with will remain the same for the life of the loan! Well my loan has been processed and is currently under review? Is this a good idea? I have never had any problems with lates payments towards the loan! Please help?
Is there a good chance of getting the loan modified! Any ideas?
Loan Modification Help
The lock on my loan has expired and my mortgage has gone up! (obviously) I spoke to my mortgage company and they offered a Loan Modification. They told me that the rate that they come up with will remain the same for the life of the loan! Well my loan has been processed and is currently under review? Is this a good idea? I have never had any problems with lates payments towards the loan! Please help?
Is there a good chance of getting the loan modified! Any ideas?
Loan Modification Help
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i recently got a loan rate modification. this is NOT verbal on the part of the bank, their offer should be in writing to you, and you have to sign it in the presence of a notary. there is a fee for this, mine was 1 point. if its a much lower rate, and its fixed, and you pan to stay in the house for a few more years, it is probably worth it. i saved 130 a month off my mortgage payment. you need to move fast because the offer will probably have an expiration date