 Re: Declined or NOT???
Great News! I just got a call from my negotiator in less time than what she had anticipated. It only took her 23 hours.
We have been approved for a three year freeze back at our initial rate of 6.99%. So we go back to paying $2,119 instead of $3,200. Although it is not what we originally wanted, we asked for a five year freeze, it is the best we can get and we will take it. She said that after that we should hope that we are in better shape to refinance.
She said that after that my loan would go back to being an ARM, but she wasn't able to tell me how it would adjust after that. The paper work will be prepared tomorrow morning and i should have it by friday. another good thing is that our first payment will not be due until May 1st.
How does this look? I am happy. We will worry about the time after the three years when the time comes. right now, we are in better shape than what we were yesterday, right? |