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Originally Posted by kingyao  I am 3 years into a 30 year loan with a rate of 6.625%. Countrywide constantly sends me advertisements to refi and lower my rate. When I call them and I give them my info, they tell me that I am not even close to being able to qualify. When I originally did my loan it was no-doc since I am self employed, they told me there is no way I would ever qualify for that same loan today. Is there anyway for me to modify my loan and reduce my rate?? |
We were asked to do a no doc loan also and really can't afford the loan we are in. If you cannot afford your loan you should consider NACA working on your behalf. If you are just looking for a lower interest rate you might have to wait awhile until the banks become more flexible with lending. I wonder if you qualify for Obama's proposal too? What state are you in?