What if you want to refi and your loan isn't Fannie or Freddie owned? What does Obama have to say to those unfortunate folks?
Derek Overbey
· 5 months ago
Not much. I'm in that same situation. I don't even qualify now to refi my loan even with the fact that I put 20% down and haven't missed/been late with a payment in almost five years. It seems like some of the people who are trying to do all the right things are getting the short end of the stick. Myself included. You in the same situation Kori?
Kori Covrigaru
· 5 months ago
I am indeed in the exact same situation. What's funny is when I called First Horizon who issued the mortgage, they said they would be willing to discuss modifying my loan if I were to be late on 2 or more payments. So, wait a minute Do I really have to screw up to adjust my 5/1 ARM? "Lucky" for me, 6-month Libor rate is extremely low. My 6.25% fixed will drop to a hair above 3% as long as things stay the same. If those rates go up, get ready for another wave of mortgage crisis'.
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