Ken
Colorado,#2Consumer Suggestion
Sun, April 08, 2012
You do know they are in no way obligated to accept YOUR terms, don't you? I would guess they raised your interest because you are now a much bigger credit risk to them, as you have proven by stopping payments to them.
This interest hike will require you to pay more just to make a dent in the principal, plus your fees and penalties continue to accrue due to your decision not to pay them....probably unwise of you.I see a future of dealing with sub prime lenders for you.
While sorry for your home loss, you just CANNOT dictate repayment terms with a lender.