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

bk11533 · 02-18-2009, 05:46 PM

While we didn't take out an FHA loan in 2005, from what I understand, our 80 (6% int) / 20(%10 int) loan could very well have been sold to them...

Anyone have any ideas on how to determine if your C-Wide loan is eligible for this new program?

Also, has anyone had any luck with with loan mods while they were current? We've never missed/made late payment, still paying principal/interest since 2005, yet unable to to refi due to not enough equity.

Principal reduction would be great, but I'd be happy with just locking into to a low fixed rate on remaining balance before mortgage resets.

02-18-2009, 05:46 PM	#3 (permalink)
bk11533 Junior Member Join Date: Nov 2008 Posts: 3 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Fannie or Freddie?? How do you know? While we didn't take out an FHA loan in 2005, from what I understand, our 80 (6% int) / 20(%10 int) loan could very well have been sold to them... Anyone have any ideas on how to determine if your C-Wide loan is eligible for this new program? Also, has anyone had any luck with with loan mods while they were current? We've never missed/made late payment, still paying principal/interest since 2005, yet unable to to refi due to not enough equity. Principal reduction would be great, but I'd be happy with just locking into to a low fixed rate on remaining balance before mortgage resets.