I got approved for a loan modification on my mortgage, but the new mortgage is an adjustable interest rate that can be changed whenever Ocwen feels like it. Can this be legal? my original loan is FHA and has been fixed rate since i had my house, and now i feel like i don't have no options than going for this; Otherwise, my loan will go on default if i don't take their offer. Any advice on what to do regarding refinance after my modification.
any advice would be helpful.
Thank you very much in advance.