Loan Modification Forum - LoanSafe.org - View Single Post - Anyone know if pre-payment penalty can be waived?

bk11533 · 11-26-2008, 05:26 AM

We're in 3rd year of a 5 year 80/20. Still have some time until interest rate will adjust. We're interested in a refi to get into 30 yr fixed now.

Anyone had any luck getting pre-payment penalty waived? What a crock that it even exists in the first place.

I keep reading about Loan Mods on here, is that different than a refi?

Problem I think we have is that we're able to pay our bill, which sounds crazy. No late payments at all, just worried about adjustable % down the road.

New to the board, but it looks like lots of good info out here from what I'm reading.

Thanks in advance.

11-26-2008, 05:26 AM	#1 (permalink)
bk11533 Junior Member Join Date: Nov 2008 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Anyone know if pre-payment penalty can be waived? We're in 3rd year of a 5 year 80/20. Still have some time until interest rate will adjust. We're interested in a refi to get into 30 yr fixed now. Anyone had any luck getting pre-payment penalty waived? What a crock that it even exists in the first place. I keep reading about Loan Mods on here, is that different than a refi? Problem I think we have is that we're able to pay our bill, which sounds crazy. No late payments at all, just worried about adjustable % down the road. New to the board, but it looks like lots of good info out here from what I'm reading. Thanks in advance.