Hi all! First time at this forum, so I must thank you all for posting such great information!
I've been notified by my owning & servicing bank, Wells Fargo Home Mortgage, that I qualify for the Attorney General (AG) Settlement to refinance my current loan (which is 7.005%). We have a phone interview on Monday to "apply" for this program.
Before we start that process, I wanted to check in here and see if any of you have been part of that program or have had success with Wells on this. Our primary loan LTV is ~116%, but our CLTV is ~136%. Our primary loan was originally with World Savings, bought by Wachovia and now owned by WFHM. Our loan is not backed by Fannie nor Freddie, and was not a regular prime loan (as part of an 80/20, where the 2TD is with another bank).
If you've had success, can you share what type of rate reduction I might expect? Did you have DTI ratio requirements to be eligible? Anything else I should watch out for?
Many thanks in advance for anything you can share!