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3kiddad · 09-08-2008, 03:40 PM

Today is a great day!!!

I contacted Ocwen and they proposed a loan modification of reducing my interest rate from my varriable 8.5% to a fixed 4.6% for 3 years. This is great news however I was really hoping to get a fixed rate for the life of the loan because I don't know if I will be able to refi in 3 years and I know I won't be able to afford the payments when the interest rate goes back up again. I told them I would accept the offer but now I m wondering if I could have requested more... should/can I ask or should I be happy to have gotten what I did?

Thanks for everybody's help!

Erik

09-08-2008, 03:40 PM	#6 (permalink)
3kiddad Junior Member Join Date: Aug 2008 Posts: 4 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Ocwen Loan Modification Help Today is a great day!!! I contacted Ocwen and they proposed a loan modification of reducing my interest rate from my varriable 8.5% to a fixed 4.6% for 3 years. This is great news however I was really hoping to get a fixed rate for the life of the loan because I don't know if I will be able to refi in 3 years and I know I won't be able to afford the payments when the interest rate goes back up again. I told them I would accept the offer but now I m wondering if I could have requested more... should/can I ask or should I be happy to have gotten what I did? Thanks for everybody's help! Erik