Mortgage rate question WAS Re: Budget101.com : Long Term Goals(Long)

Budget101 Discussion List Archives Budget101 Discussion List Mortgage rate question WAS Re: Budget101.com : Long Term Goals(Long)

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      > The $ 120,000 is for our house
      > that I explained the situation for in a previous post & I am not
      > paying that back to anyone just because some new mortgage
      company
      > decided to jack our mortgage up to a price they knew we couldn’t
      > afford.
      >

      May I ask (and feel free to say its none of my beezwax) how that is
      legal? Did you have an adjustable rate mortgage or something like
      that instead of a fixed rate? I used to be in the mtg biz, and my
      MIL still is, and even an adjustable rate mtg usually spells out how
      high they can raise your rate and payments.

      There is a cap listed.
      Your Note is your Note no matter who buys the loan and is the
      binding agreement. If there is some loop hole that a shady company
      can get away with, I truly wish you would share what it is so that
      no one else gets the carpet pulled out from under them like you
      have. I have never heard of something like that and I would
      certainly like to know what to look for.

      Are you able to refinance to a decent fixed rate/payment mortgage to
      bring the payments back down?

      Monica

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Budget101 Discussion List Archives Budget101 Discussion List Mortgage rate question WAS Re: Budget101.com : Long Term Goals(Long)