Mortgages Remortgage
I’ve had a mortgage for almost 2 years and last month it was over 30 days late, can i still remortgage?
its a variable rate above 8% and I need it to come down…what can i do?
You might be able to negotiate with your lender to lower your rate.
You should also look at FHA options, but do it quick, before you get further behind.
I suspect any refi option you currently have would be at a higher rate than you are already paying, so be very careful.
In a refi, make sure that you READ THE NOTE when you sign the docs and that it specifies the rate and term you expected. Make sure that the note is in the documents that escrow gives you after you finish signing them. You have 3 days to cancel the deal after you sign.
As paranoid as it may sound, I have known people who were pressured to sign docs without reading them, and folks who didn’t know they didn’t have copies of their note until they asked me to review it and it wasn’t in the docs. I have know people who thought their documents promised a much better deal than they actually got. Practices that have given my profession a black eye and put a lot of people in trouble.
Buyer Beware!
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