Regular Contributor
Posts: 218
Registered: ‎07-29-2007
Re: I have a 115% mortgage on a 3 Year there hope?

Jayray7352 wrote:
I tried to look into a refi with a fixed rate, but the loan officer actually quit returning my calls.  She called me once and told me that my score was around 605 (it has since jumped back to 620....) and that she would do some checking on why it was so low....but hasn't called me back...and won't return any of my messages.  Meanwhile, I got a "loan letter" ( I apologize, I cannot remember the term) in the mail with an estimate of what she initially thought she could give me, and she was charging 10% origination!!  Seems a bit this the norm for "high risk" folks like me?

10% origination?  Are you sure that's right?  That's the max legal limit and well over "high-cost" guidelines.  The only time I'd ever see that is on a tough commercial or "hard-money" or foreclosure bailout situation, and even then I personally wouldn't charge that much.
From BK to 700 FICOs in 4.5 yrs.