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Home loans

does anyone have any experience or are you going through loan modification on your home to reduce your current payment?

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calliesmommie

Asked by calliesmommie at 10:27 PM on Jan. 12, 2009 in Money & Work

Level 22 (14,987 Credits)
Answers (2)
  • Are you refinancing? The rates are low right now. I know the rates are at 5%. That may only last a few days and then go back up. Talk to you mortgage broker/lender and see what kind of rate they can lock in for you. Having a lower rate will decrease your payments.
    passionmom119

    Answer by passionmom119 at 10:40 PM on Jan. 12, 2009

  • If your credit is good, you'd be eligible to refinance. but our credit is not too good right now-so we couldn't do it. We were having trouble making our payments, so the bank worked with us on a plan: they lowered the payment, but we will be paying the difference over a period of time.
    Anonymous

    Answer by Anonymous at 11:22 PM on Jan. 12, 2009

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