One mortgage broker said I did not qualify for refinancing, but suggested that I go to B of A directly and try to get my rate reduced. Has anyone been successful at this? I also don’t want to extend my term if I do this…
You can ask, but B of A is under no obligation to reduce your interest rate. Just be sure you are doing a loan modification and not a refinance, a refinance will cost thousands of dollars and will quite possibly extend the term.
Will Bank of America reduce my mortgage interest rate?
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good luck..those mfers wont do shit for me…no matter WHAT
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Call the loan mitigation department and see if they can assist you. There may be things that they can do. But, if you are above 105% in Loan to Value, they probably won’t do anything.
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Not unless THEY have a great reason to. Otherwise man up to your obligation that you agreed to.
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You can ask, but B of A is under no obligation to reduce your interest rate. Just be sure you are doing a loan modification and not a refinance, a refinance will cost thousands of dollars and will quite possibly extend the term.
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Oregon Realtor