Quote
Originally posted by: MoneyLA
If you claim a hardship (and why not?) there are rates as low as 1% for five years, then readjust to your regular rate. And the 1% is fully amortized. But the trick is that you have had a drop in income, or the bank did something "wrong" with your original loan such as overcharge you.
Originally posted by: MoneyLA
If you claim a hardship (and why not?) there are rates as low as 1% for five years, then readjust to your regular rate. And the 1% is fully amortized. But the trick is that you have had a drop in income, or the bank did something "wrong" with your original loan such as overcharge you.
I am at 5.5% fixed and owe less than $100,000, but my 2011 income will be about 60% of what my 2009 income was. I wonder if this is something I might look into.