Current: 2135/mo 358900 owed within 5% Offer: 1500/mo 220000 harmony at 2% they say it provides the mortgage newest

I was curious if the a two% interest rate continues to be open to you. The B out-of A had been ended up selling so you’re able to Ocwen within 4.5. I happened to be contacted of the U.S. Court class exactly who reported that I automatically eligible for the 2% rate of interest. Is this real?

Not sure that is in reality handling the improvement. Usually advisable that you vet the firm that connections you (incase it called you) to be certain it is genuine.

We received the new B off An effective promote! ..does which means that this is simply not a unique 30 12 months loan? it could be to the kept 22 years of all of our current loan?

Not sure, I haven’t viewed one among them now offers, I’ve just understood regarding system. If it’s a thirty-12 months mortgage having a balance from $220k during the 2%, that’d getting $813 thirty days for prominent and you may interest money. Therefore $step 1,five-hundred 30 days seems like a smaller identity possibly plus taxation and you will insurance rates? Better to inquire further and study the papers/bring.

Colin, You will find an FHA mortgage as well as have made an effort to modify numerous moments however they cannot dump dominant. It is definitely a knowledgeable terms we have seen. We do have to consent written down so you’re able to a termination off the FHA insurance toward mortgage. Of course when we cannot up coming so it promote are cancelled. Unclear what you should brand of you to…any belief?

Along with, when we improve step three demonstration repayments was i guaranteed new the fresh new loan?

I can’t comprehend the give thus i are unable to give you advice. Generally eliminating mortgage insurance coverage might be the best thing since it manage slow down the percentage even more.

Hello Colin, My personal dos% Bank off The united states modified financing could have been marketed to Actually domestic Mortgage because the last year. Now Ever home mortgage changing interest to three% and you can out of 2017 to3.5%. Can they do that ?

We did get some good telecommunications regarding Lender of new York, In my opinion Mellon

Bof A sensed you inside the Jan we were eligible online payday loan New Jersey for a DOJ Mod. I applied. It considering 2.% and you can a good “set aside” out-of 120K on the a 650K note til the root matter is reduced. And you can step 3 demonstration repayments, a til paid in 23 many years.. Generated three demo payments. They offered they to help you Quality and you may Quality said we’d so you’re able to initiate over with a new Mod software We have been throughout the techniques with a new mod appl which have Quality.. Caliber states its mod give only be great 5 years, after that will get costly once again, what claim do i have up against people inaccurate behavior with b out of good?

We were considering a destination Only repaired price financing inside 2005 and therefore we did not submit an application for. It actually was absolutely bait and option and now we will always be fighting having BOA. I am searching for who it sold our very own loan to/securitized manager, an such like. given that tasks at registry of deeds is robosigned. Anyone have any chance mastering during 2005-2007 “blitz/hustle” how to tune where they marketed your loan to?

There isn’t you to piece of paper but is indeed there good means I could contact BoNY to see facts from their store?

Colin, authored your good lengthly situation seeking their advice on how best to procede however it did not blog post.right here…….. too-big? Do you really post me personally an elizabeth-post and i also usually content and paste to you Really, Fred King

Sure it was too much time, while attempted to blog post they 5+ moments. I don’t have people information other than possibly reaching out to companies including the CFPB so you’re able to complain concerning the organizations at issue if you believe you have been wronged.