Quote:
Originally Posted by Lorybz  Hi,
Thanks for your answer and advise. My mortgage is with Freddie Mac, and 30 years , interest only the first 10 years and the rest 20 years, int & principal. |
It sounds like you fit in the guidelines that the White House and Treasurery Dept. said about the stimulus money that went to the banks to help fight off foreclosure.
But heed my previous warnings, it's not slow and in a lot of cases I read they don't want to start working with you until you miss 1 payment. But call WF Customer Service or if possible go into a local branch and talk to a loan officer face to face. This may help fight any confusion that the customer service has put a lot of us through.
I hope it all works out for us all. Try to get rid of the interest only, I'm scared of those because look at whats happened with the housing values and the bond rates for housing has been on a yo-yo ride I fear they will go up soon. See if they won't atleast refi and fix rate it at the low rates now and see if it will lower you payment.