Posted on: 01st Dec, 2009 04:52 pm
Five Stars Mortagage has gotten us money for our mortage. But we have a problem we cannot coe up with $5,700.00 to pay for the insurance. What can we do
You have to pay a lump sum of $5700 for insurance? that seems a lot. What sort of insurance is this?
>>we cannot coe up with $5,700.00 to pay for the insurance
What insurance? What type of mortgage are you getting?
What insurance? What type of mortgage are you getting?
you could ask them to absorb the fee by raising your interest rate. One of the ways lenders and brokers are compensated is by charging higher rates. So your current lender may be able to raise the rate, receive higher compensation for closing your loan and pay that fee for you.