I bought my house about a year ago and I see offers on TV (and the internet) for payments a lot less than mine and my house cost a lot less then the ones they use for examples. Are places like Countrywide and lowermybills.com legit?
2007-08-18 05:00:10 · 3 answers · asked by verndragonx 3 in Cars & Transportation ➔ Insurance & Registration
honestly i wouldnt recomend u to go to places wit those "special promotions".they always have a twist nd sometimes make things worse.i would recomend u to go wit banks like washington mutual or chase.but make sure that they dont run ur credit score a lot.that will probaly bring down the chances of u paying a lower mortgage.
Good Luck =]
2007-08-18 05:07:24 · answer #1 · answered by 13o0tiful 2 · 0⤊ 0⤋
By having an excellent credit rating. The better your credit rating the lower the interest rate you can qualify for. The other way is that some of those offers are for VARIABLE rates where the percentage is low for a year or two then jumps up and doubles or triples your payment. There is also one being advertised which all you pay is the interest for the first few years. After paying for several years you end up still owing every penny you borrowed originally. That is maybe good if you're in a market where prices are going up rapidly and you're planning on selling it for a profit in a couple of years. None of these options are good for the average person. Most of the people who are currently losing their homes because they can no longer afford to make the payments took one of those options.
2007-08-18 05:17:01 · answer #2 · answered by mustanger 7 · 0⤊ 0⤋
Just be careful This is a "teaser."
Yes, it's so low your tongue hangs out. Then, guess what happens.
POW! The rate goes through the roof.
You're probably better staying where you are.
2007-08-18 05:13:51 · answer #3 · answered by Barry auh2o 7 · 0⤊ 0⤋