Has anyone been told they have been approved and

[CrazyMOND]

1.) Has anyone been told they have been approved and that they should get paperwork in a couple more weeks? ( It seems kinda of long)

2.) Also has anyone doing HAMP been told that they are looking at a flat rate of say 4% for the life of the loan? (Excited but unsure also)

I only recall reading about people being told that they are approved and they should be getting their paperwork in the next few days. And it also seems to me that people are getting say 3% for 5 years & then 4% for another year or two and then say 5% for another year or two and like 5.5% for the rest of the term. Just kinda of confused but it doesn't take a whole to confuse me.

Thanks and good luck to all!!

[davephx]

HAMP can start as low as 2% for first 5 years than rise over more years to a index max rate set at the time the mod is given. Currently about 5.5% or a bit less , which is the current rate for a 30 year fixed. One of the lowest rates in many many years.

[MyHAMP]

New interest-rates, released yesterday:

Freddie Mac's Primary Mortgage Market Survey -

[Evan Bedard]

1.) Has anyone been told they have been approved and that they should get paperwork in a couple more weeks? ( It seems kinda of long)

Also to add, they will always tell you the paperwork should arrive in a few weeks.

Have you already gone through the trial period?