Ava
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Post by Ava on May 17, 2012 20:18:00 GMT -5
Hi, everyone
After reading so many threads about mortgage refinances and loan forgiveness here in YM, I decided to try my luck.
Since I finished school I have more time in my hands, so I called my mortgage lender today.
I was on the phone about 1 1/2 hours. I was transferred several times.
Finally, my mortgage will go from a rate of 6.875 to a 4.3 rate and a
4.5 APR.
My mortgage payment will go from 597 to 497, that includes principal, interest, taxes, and PMI.
To top it all off, I got my first in-person job interview scheduled for next Thursday! ;D
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swamp
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THEY’RE EATING THE DOGS!!!!!!!
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Post by swamp on May 17, 2012 20:18:59 GMT -5
Yay!!!!!!
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Jaguar
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Post by Jaguar on May 17, 2012 20:20:02 GMT -5
Congrats.  |
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Cookies Galore
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Post by Cookies Galore on May 17, 2012 20:22:17 GMT -5
Awesome!
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Ava
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Post by Ava on May 17, 2012 20:42:33 GMT -5
Thanks, guys, for all the good vibes!
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taz157
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Post by taz157 on May 17, 2012 20:48:54 GMT -5
Congrats and good luck on the job interview!!  |
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Works4me
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Post by Works4me on May 17, 2012 20:54:31 GMT -5
Way to go!!!
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Sharon
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Post by Sharon on May 17, 2012 21:20:20 GMT -5
Good luck with the interview
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daisylu
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Post by daisylu on May 18, 2012 6:12:44 GMT -5
Congratulations Ava, and good luck with the interview!
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doxieluvr
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Post by doxieluvr on May 18, 2012 7:42:40 GMT -5
Excellent news!!! Who is your mortgage company? I am thinking of calling this afternoon.
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resolution
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Post by resolution on May 18, 2012 8:02:44 GMT -5
Congratulations! Before I joined this forum I had no idea how much money could be saved simply by calling people up and asking for lower prices/rates.
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seriousthistime
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Post by seriousthistime on May 18, 2012 10:46:50 GMT -5
Excellent news Ava!
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Ava
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Post by Ava on May 18, 2012 17:01:55 GMT -5
Doxie; I have Citi. I've had my mortgage with them since the beginning, four years ago.
I have never missed a payment, I've never been late either. They agreed to do Harp 2 even though I don't have stellar credit (630, 650, 680). Mainly old debts with credit cards my ex-husband gave me an extension to.
Kari, yes, this board is amazing. I would never think about calling the bank on my own, it's just that other posters were doing it. I said; why not?
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Peace Of Mind
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Post by Peace Of Mind on May 18, 2012 17:04:48 GMT -5
Nice job, Ava!! And good luck next Thursday - I hope you get it!
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dancinmama
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Post by dancinmama on May 18, 2012 17:42:57 GMT -5
Awesome news, ava. I go by the motto, "If you don't ask, the answer is already 'no'." Congrats on getting the interview too.  |
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Deleted
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Post by Deleted on May 19, 2012 19:00:18 GMT -5
Congrats on the refi, but especially on your degree! I know you've worked hard for it!
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Malarky
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Post by Malarky on May 19, 2012 19:32:27 GMT -5
Great news.
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Jake 48
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keeping the faith
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Post by Jake 48 on May 19, 2012 19:34:42 GMT -5
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doxieluvr
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Post by doxieluvr on May 19, 2012 20:32:52 GMT -5
Ava- what is harp 2?
I have my mortgage through Bank of America. Luckily I have never missed or been late either. I have a 720-750 credit score last time I checked. I do have a high mortgage for my income. Its over 50% of my salary. I also have substantial amount of equity.
I would be thrilled if they would consider lowering the rate and even keeping the same term.
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Ava
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Post by Ava on May 19, 2012 20:37:04 GMT -5
Doxie; call BofA and tell them you want to refinance. HARP 2 is a new program that allows underwater homeowners to refinance to a lower rate, provided they are up to date with payments.
If you have equity on your home, then you don't qualify for this programs. But nowadays there are several options. The worst thing that could happen is that you spend an hour on the phone with no results.
But there are many options right now, especially if your rate is high. Call your bank and ask them.
That's what I did.
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TheOtherMe
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Post by TheOtherMe on May 19, 2012 20:45:29 GMT -5
Ava,  on finishing college, on the refi and the job interview. Now sell yourself at the job interview! |
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Ava
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Post by Ava on May 19, 2012 22:01:52 GMT -5
Hello, TheOtherMe. Thanks for the Karma, the good vibes. I'll try to sell myself. I am really nervous about it, though. I am glad is a face to face interview. Somehow I feel it will be easier than a phone interview. Not that I expect to get a job in my first real interview, but I'll do my best. I am already learning all I can find on the company and practicing answers to the most common interview questions. Do you think Paul will tour the US this year? I am checking his website every day, but nothing yet. I am getting antsy  . |
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suesinfl
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Post by suesinfl on May 20, 2012 5:00:50 GMT -5
Ava,
Congrats!!! You have convinced me to try again. A couple of years ago I filled out the paperwork and was denied. I'm going to try again. By the way I deal with Chase.
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973beachbum
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Post by 973beachbum on May 20, 2012 9:48:28 GMT -5
WOW! That is fantastic news!!! Good luck with the job interview.  |
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TheOtherMe
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Post by TheOtherMe on May 20, 2012 10:39:12 GMT -5
Do you think Paul will tour the US this year? I am checking his website every day, but nothing yet. I am getting antsy . Do you know there are two websites now and the forum will someday be integrated in to the new one? I expect he will tour in late summer/fall in the US since he has some dates in the UK and Europe in June. I most likely will not be going this year--unless he takes me up on my offer to play in my backyard. ;D |
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Ava
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Post by Ava on May 20, 2012 11:32:03 GMT -5
TheOtherMe; I didn't know. I still go to PaulMcCartney.com. Then I go to the tab that says "Tours". Why aren't you going? I'm going, I can't wait. Oh, and if he plays in your backyard, do you mind me showing up with my folding chair? Suesinf; try again. Two years ago is a long time ago. The rules are changing and there are new programs. Like I said, just make sure you have plenty of time available when you make the call. It takes a while. But you may qualify. Actually, I called Citi about a year ago (before HARP2) and I didn't qualify for anything. |
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doxieluvr
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Post by doxieluvr on May 20, 2012 13:50:42 GMT -5
I called a year ago and qualified for a mortgage modification. I am still waiting for the packet they said was going out in the mail.
Ava, i cannot refinance because of my debt to income. My house expenses are more than half my monthly income. Today I would not even qualify to buy my house. Thats why I am saying it has to be some special program.
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Plain Old Petunia
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Post by Plain Old Petunia on May 20, 2012 14:01:40 GMT -5
I called a year ago and qualified for a mortgage modification. I am still waiting for the packet they said was going out in the mail. Ava, i cannot refinance because of my debt to income. My house expenses are more than half my monthly income. Today I would not even qualify to buy my house. Thats why I am saying it has to be some special program. Doxie, I am currently in the process of doing a refi through Wells Fargo's "3 Step" streamline program. There were requirements, but none of them had anything to do with debt to income ratios. There are lots of new programs popping up. Don't give up, keep trying. Do you know if you are eligible for a refi under the National Mortgage Settlement? B of A has said they will be writing down 17 billion of mortgage debt. |
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doxieluvr
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Post by doxieluvr on May 20, 2012 14:33:53 GMT -5
Petunia, i am not sure. I tried calling today but they were closed. I will try again one evening this week. I jave to find two hours that I can dedicate to call when the kids are occupied and bank of america is open. Not an easy feat apparently.
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TheOtherMe
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Post by TheOtherMe on May 20, 2012 21:57:17 GMT -5
TheOtherMe; I didn't know. I still go to PaulMcCartney.com. Then I go to the tab that says "Tours". Why aren't you going? I'm going, I can't wait. Oh, and if he plays in your backyard, do you mind me showing up with my folding chair? You may come if Paul plays in my backyard! Very welcome! I have some health issues that are going to take some $. Will just have to see how close he comes to me as I can't afford to do what I've done the past 3 summers--air fare, hotel and ticket. |
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