Loan Modification Forum - LoanSafe.org - View Single Post - Is there still no one with a modification offer on the dec. 1???

sandyh · 01-11-2009, 04:50 PM

Does your loan interest change each month, tied to libor? I think a lot of the option ones do. I'm not saying your payment would change (the min one that is) - but the amount of interest being charged would. If your loan is tied to libor and it resets every month, your interest would be much lower since libor is currently at .42 (compared to 4.42 this time last year).

01-11-2009, 04:50 PM	#11 (permalink)
sandyh Senior Member Join Date: Dec 2008 Posts: 85 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Is there still no one with a modification offer on the dec. 1??? Does your loan interest change each month, tied to libor? I think a lot of the option ones do. I'm not saying your payment would change (the min one that is) - but the amount of interest being charged would. If your loan is tied to libor and it resets every month, your interest would be much lower since libor is currently at .42 (compared to 4.42 this time last year).