FHA Deparment letter?

[eddymvp]

I just received a letter from FHA Deparment, 2 south pointe drive, Lake FOrest, CA. With the following beneftis.

Refinance your current loan to a 30 year at 3.25% with an APR of 3.943%

Refinance with NO lender charge closing cost.

Receive a REFUND of your current escrow account

Refinance with NO APPRAISAL required

Refinance with NO EQUITY required.

I bought my house on May, 2009 with a interest rate of 5.00%.

Is this letter real and is it true that it wont' cost me any money and will reduce my interest rate to 3.25%?

[MarineVietVet]

This address is for a company called Nationwide Mortgage Concepts. They say they handle all types of home loans.

Whether they are legiimate or not I couldn't say. Just do an internet search for their name to read more about them.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[eddymvp]

Thanks for your reply marinevietvet,

at the bottom of the letter it says:

Sincerely,

edited

NMLS # 15743

Loan Officer

Nationwide Mortgage Concepts

The disclaimer has a NMLS # of 4133.

Is re-financing a good idea? I have not thought about it since I've only been a home owner for 20 months.

[MarineVietVet]

---

@eddymvp wrote:

Thanks for your reply marinevietvet,

at the bottom of the letter it says:

Sincerely,

Edited

ENMLS #

Loan Officer

Nationwide Mortgage Concepts

The disclaimer has a NMLS # of 4133.

Is re-financing a good idea? I have not thought about it since I've only been a home owner for 20 months.

---

I've refied twice since I bought my house in 1997 with the last ime being in 2003. It can be a good thing but only you can decide if it's right for you. I imagine the mortgage guys will be along soon enough to offer their expertise.

By the way I edited the name that was in the letter you received. I hope you understand that personal information is not allowed to be posted in the public forums.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Lel]

Just my two cents here. I've received innumerable similar solicitations over the few years. I don't recall receiving one from this particular company, but my overall impression about these "cold-call" letters is that they promise more than they can deliver. I did contact one out of curiosity once, and they promised me over the phone a 30 year fixed rate that was very competitive. The paperwork they sent me was for a 2/1 ARM. When I called them back to point out the "error", they suddenly could not offer the rate and terms originally promised. So be careful. If it sounds too good to be true, it probably isn't true.

[ShanetheMortgageMan]

Are you looking to refinance into an ARM mortgage?  Because that is what it's an advertisement for.  They get you to think it's a 30-year fixed mortgage by using the term "30-year" but it actually never says it's a 30-year fixed, as all ARM's are based on a 30-year loan.  Deceptive advertising at it's best.