Posted on: 16th Jan, 2008 07:35 pm
Now have a current interest rate of 7.15%. Note reads can increase to 10.15%. Based on 6mos LIBOR in February. With all that Congress and the President are doing about these type of loans. Can they go up that much now? Or has a law been passed that they can't go up that much.
I though there were laws being passed that were not going to let that happen.
I'm in Texas
I though there were laws being passed that were not going to let that happen.
I'm in Texas
Hi Anthony,
The government can't "force" lenders to retroactively change a contract. So it is being done on a voluntary basis......What is the value of your house? How much do you owe on it? What are your credit scores? Have you considered a refi?
The government can't "force" lenders to retroactively change a contract. So it is being done on a voluntary basis......What is the value of your house? How much do you owe on it? What are your credit scores? Have you considered a refi?
Hi anthonytodd24,
I would suggest looking into a refinance. Right now fixed rates are 5.50% on a 30 year mortgage. The timing is perfect with rates being low, so take advantage of it.
I would suggest looking into a refinance. Right now fixed rates are 5.50% on a 30 year mortgage. The timing is perfect with rates being low, so take advantage of it.