Hi everyone,
I just wanted to say that this site is great! Thank you all so much for your wisdom and strength!
I was assigned my loan negotiator today. Does anyone have any advice in dealing with
CW? From what I heve been told on this site, I have a good chance of a loan mod or at lease a rate freeze. I have 2 loans. No lates. Will not be able to afford the coming reset. I also found out that pincipal will be added to my payment.
1st: 3/27 I/O @ 7.2 (new adjusted rate starts 2/1) Extra 600+ a month
2nd: fixed @ 9.875 balloon in 15 (purchase money)
Can I ask that both rates be dealt with?
I was reading ealier about purchase money seconds being non recourse, does that mean that I have more bargining power? Should I not refi into one loan if offered?
Thank you all again for this site, You have given me hope!
Shannon