Re: What is risk of one more late mortgage pmt after 7mo's no payment?
11-14-2012 01:03 PM
As I understand your post, you have a loan that you are attempting to refinance, and you dont want to meet current payments, thus being able to include that amount in your principal on the new loan, which will then be subject to the lower rate?
Kinda confusing, as I would assume that if you are already 7 mos in arrears on that current loan, that would already have substantial impact on the new, prospective lendor's decision on approval of the refinance....??? They are ok with that up to this point?
Have those lates already been reported by your current creditor, and thus aware to your prospective creditor?