I finally could get a offer from BofA through NACA
Here's my situation, I'm paying $1600 monthly for the 1st mortgage including $200 of tax and insurance at 6.5% 30 year fixed.
What BofA offered to me today is that first year 2% and then the rate increase every year. ( I think this is from the Obama's Making Home Affordable program)
I don't know how much it lowers my monthly payment, but I think it reduces significantly.
I know this offer is good offer compared to my current one.
but I do want to know how good this offer is. Let me know what you think
Thanks for any input