I thought bad economic news was going to be good for my interest rate

[Mark Wein]

When I applied for my mortgage they told me that and when I checked yesterday (we haven't started escrow so there no "locking in" yet) it had gone up 2 tenths of a point.... >:(

[xqqmytude]

You think that pisses you off? This article has my blood boiling. Apparently, people who pay their bills on time and want to benefit from the stupidly low interests rates by refinancing are "free-riders". It would appear, those low interest rates are supposed to be reserved for people that are delinquent on their payments. Why are we rewarding bad behavior?!?!?!?

Tell them you'll skip your first two payments, Mark, and maybe they'll cut you a better deal. >:(

http://finance.yahoo.com/expert/article/mortgage/114933

[hobo]

What is your interest rate and how many points are they trying to stick you with?
What type of loan are you going after, fixed , adjustable?

[Mark Wein]

You think that pisses you off? This article has my blood boiling. Apparently, people who pay their bills on time and want to benefit from the stupidly low interests rates by refinancing are "free-riders". It would appear, those low interest rates are supposed to be reserved for people that are delinquent on their payments. Why are we rewarding bad behavior?!?!?!?

Tell them you'll skip your first two payments, Mark, and maybe they'll cut you a better deal. >:(

http://finance.yahoo.com/expert/article/mortgage/114933


I had a mortgage broker in my blues class last night tell me that Countrywide has stopped all foreclosures. They just can';t deal with it anymore so they are just letting people keep their houses.

He just modified a loan for someone who hasn't made a house payment since July 2007! They get to keep their house with no penalties....

[Mark Wein]

What is your interest rate and how many points are they trying to stick you with?
What type of loan are you going after, fixed , adjustable?


I don't want to talk too much about specifics but it will be a 30 year fixed.

[hobo]

Well, ok, I was just wondering what the interest rates are these days on conventional loans. It is good that you got a fixed 30 year loan.

[xqqmytude]

You think that pisses you off? This article has my blood boiling. Apparently, people who pay their bills on time and want to benefit from the stupidly low interests rates by refinancing are "free-riders". It would appear, those low interest rates are supposed to be reserved for people that are delinquent on their payments. Why are we rewarding bad behavior?!?!?!?

Tell them you'll skip your first two payments, Mark, and maybe they'll cut you a better deal. >:(

http://finance.yahoo.com/expert/article/mortgage/114933


I had a mortgage broker in my blues class last night tell me that Countrywide has stopped all foreclosures. They just can';t deal with it anymore so they are just letting people keep their houses.

He just modified a loan for someone who hasn't made a house payment since July 2007! They get to keep their house with no penalties....
Must be fucking nice. I would have an extra $20,000 in my pocket if that was me. Maybe I should refinance with Countrywide and just stop paying.

ARGH >:(

[Mark Wein]

the rates at the moment are hovering in the low 6% area but it changes constantly. My broker told me on Monday they had 3 rate changes in one day...return a phone call late and you're screwed :o

[Mark Wein]

You think that pisses you off? This article has my blood boiling. Apparently, people who pay their bills on time and want to benefit from the stupidly low interests rates by refinancing are "free-riders". It would appear, those low interest rates are supposed to be reserved for people that are delinquent on their payments. Why are we rewarding bad behavior?!?!?!?

Tell them you'll skip your first two payments, Mark, and maybe they'll cut you a better deal. >:(

http://finance.yahoo.com/expert/article/mortgage/114933


I had a mortgage broker in my blues class last night tell me that Countrywide has stopped all foreclosures. They just can';t deal with it anymore so they are just letting people keep their houses.

He just modified a loan for someone who hasn't made a house payment since July 2007! They get to keep their house with no penalties....
Must be fucking nice. I would have an extra $20,000 in my pocket if that was me. Maybe I should refinance with Countrywide and just stop paying.

ARGH >:(


Its the new American Dream....