Nikki
Coconut Creek,#2Consumer Suggestion
Wed, May 14, 2008
If anyone out there has a second or later change date coming up, your payment and interest rate may be lowered. Many of the ARM mortgages were based on LIBOR, and could not go more than a certain percentage above current LIBOR. Last year, the LIBOR rates were high, but they have come back down. I, for instance, had an ARM mortgage that stated the rate will not go more than 5.25% over LIBOR. Since LIBOR is currently at around 2.?%, my interest rate would have gone down to 8.?% rather than the 11.49% I would have had. Luckily I was able to refinance to a 30 yr fixed, so I don't know if the contract would have been followed.
Crystal
Sicklerville,#3Consumer Comment
Mon, May 12, 2008
hi, pam i feel your pain, me and my husband has been contacted from telecore direct and all they had to say was great. i was happy to hear there is copmanies out there that help, but with all the scams going on i just had to check these people out, i thank you for that. but at the same time there is another report about the same company saying they are a fraud, report #307896.... what do you think? thanks again crystal-new jersey
Cleslie
LaGrange,#4Consumer Comment
Fri, May 02, 2008
To the first person that commented, if you dont have this company nor the paperwork, how can you say you signed for it? Saxon mortgage told me that in my paperwork that I signed and initialed stated that if force placed insurance ever came into existence, it is there for the life of the loan. I went through all my paper work and its not there. I had them mail me out the paper stating that and uhm, its not there. People that are complaining about this company actually have legitimate complaints because they are ripping the consumer's off!!!
South Texas
Leesville,#5Consumer Comment
Wed, April 09, 2008
Did the original post mention an ARM, or are you assuming that because of the monthly interest increases? Looks more like another case of the mortgage company midhandling insurance issues and doing whatever they can to force a forclosure...
Mortgage
Keller,#6Consumer Comment
Wed, April 09, 2008
I hate to sound harsh but i'm tired of listening people complaint about their mortgage companies for the increase of payments because of ARM Loans. its a contract that as a consumer you agreed to, you are responsible to signing the documents. the company does not make any changes on the NOTE if you did not signed for and agreed to when you initially agreed to.