I currently have an adjustable rate mortgage loan and would like to set a fixed rate ?
February 3rd, 2010 by Lenny
I have heard on the news that we can petition our lender for a fixed rate. They also gave a phone number to a place called, Homeowners Unity Foundation whom I talked to, and they say they charge 00.00 to help you because they work with lawyers that help the process move faster. But they do not guarantee results. Can anyone give me some insight or suggestions?
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Tags: fixed rate, guarantee results, insight, lawyers, phone number, unity foundation
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Stay away from this HUF outfit. Sounds like a rip off.
Read your mortgage documents. Some have a clause that you can convert for a fee (usually 1%). If so, contact the lender and ask what you need to do to accomplish this.
If you don’t have this clause, you can still ask them to convert it. There may be more fees as it will actually be a refinance.