I am a little confused. I filled out the paper work online at citi.com, called the next day and was pre approved. They offered me 4 month trial deposit.
Original payment on the 1st was $1082 includes property tax and insurance. $130,000 balance with 6.75% rate 27 years left on it.
Trial payment are set at $776.34. He mentioned the rate of 3.125% for 319 months (26.5 years)
I have some question in regards to what this all means.
Will this show up negatively on the credit report?
What happens after the 4 month payments?
Thanks for any help.
I am doing a lot of reading on the boards and i am thankful to find this website.