I have signed a repayment agreement with my lender,My question is can I still bring my loan current and nix the payment arrangement to avoid the high interest they have attached to the repayment plan.
the plan is for 6 or 7 months , but I can probably become current through refinancing another property now, can i pay up now and return to my original monthly payment ?
2006-11-28 15:47:17 · 7 answers · asked by moham 1 in Business & Finance ➔ Renting & Real Estate
Not typically can you change a signed repayment agreement. You should call them and ask however that if you bring it current (They don't need to know how you did this,) would you still have all the interest charges. Typically it's not front loaded interest, so you might catch a break by paying the outstanding balance faster, but the agreement that you signed is still valid.
Check to see if you have a prepayment penalty, and simply tell the lender you can repay early if you don't.
Good luck
2006-11-28 15:50:58 · answer #1 · answered by Jen 5 · 0⤊ 0⤋
Most likely yes since your agreement is seems to be set up that your payment will drop once you become current. If you are looking to refinance another property feel free to log onto http://www.justgetaloan.net we have been able to assist plenty of people with similar situation get low interest rate loans. Also for further assistance feel free to contact me directly at 866 530 7300 ext 7305 or by email at jfreeman@justgetaloan.net
2006-11-30 07:14:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I WOULD BELIEVE YOU COULD PAY OUT EARLY BUT, I AM REASONABLY SURE IT WILL BE FOR THE AGREED AMOUNT IN FULL. IT IS NOT LIKE A CONVENTIONAL LOAN WHERE YOU ARE SAVING INTEREST. YOU ARE PAYING PENALTIES AND LEGAL FEES. BECAUSE IT WENT TO FORBEARANCE THE LEGAL DEPARTMENT GOT INVOLVED. BRING IT CURRENT BY ANY MEANS TO MAKE YOUR CREDIT BETTER. CALL AND ASK THEM TO ACCEPT AN EARLY PAY OFF OF THE LATES AND IN RETURN TAKE OFF NEGATIVE INFORMATION FROM YOUR CREDIT. BE SURE YOU UNDERSTAND THE DIFFERENCE BETWEEN WE WILL REFLECT IT AS PAID, AND MAKING THEM PUT IT IN WRITING TO REMOVE THE NEGATIVE INFORMATION. IF THEY DO NOT PUT IT IN WRITING YOU WILL ENDURE THE DINGS FOR QUITE A WHILE. YOU CAN DECIDE HOW TO PAY IT OFF AND IT BECOMES A PERSONAL CHOICE FINANCIALLY. I WILL LOOK AT YOUR CREDIT AND REFINANCE OPTIONS IF YOU LIKE. HIGHERGROUNDFISVC@YAHOO.COM
2006-12-02 10:17:33 · answer #3 · answered by MARY A 2 · 0⤊ 0⤋
i does no longer difficulty. i've got by twist of destiny paid late by some days b/c i forgot approximately it and on no account even observed a late fee. they regularly won't even call except it is been greater effective than each and every week... verify your fee status in spite of the undeniable fact that, that's fairly useful to call them to ask if its long previous threw, they might probable think of it became into some form of difficulty no longer on their end and does no longer do something against you. sturdy luck with that in spite of the undeniable fact that! ~Drac
2016-12-10 18:08:59 · answer #4 · answered by parenti 4 · 0⤊ 0⤋
You need to read your contract carefully. I would be willing to bet the answer is NO. You can only get out if it if there is a way out provided in the contract. Otherwise, you're pretty much stuck.
2006-11-28 15:49:19 · answer #5 · answered by cyanne2ak 7 · 0⤊ 0⤋
Have you tried to refi the mortgage? Shoot me an email to discuss details.
Best Regards,
Anthony
2006-11-28 16:26:22 · answer #6 · answered by lowermydebtnow.com 2 · 0⤊ 0⤋
just call and ask
2006-11-28 15:48:28 · answer #7 · answered by ilovecheesepennies 1 · 0⤊ 0⤋