No. of Recommendations: 0
hi Dave

Have you ever heard of the refinancing term extension modification. About 10 years ago I simply bought down the rate on my existing mortgage with a flat fee of around $500. The rate at the time went from 10.25% to around 8%, and nothing else about the note changed. Do you know of any lenders that are still doing that? I've heard from a family member that works at a lender as a loan processor that -
1) She sees these type of loan mods all the time and
2) It does not have to be with the original lender.

Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.