Results 1 to 2 of 2
  1. #1
    Join Date
    Aug 2007

    Default Subprime Interest Rate Woes

    My subprime rate (on a mortgage of 450K) went up in May from 7.5 to 9.5 and will go up again in Nov and Feb of next year. I have been making payments on time for the last 3 years and at 9.5% I am still making the payments on time but possibly not for long. I am afraid any small change in my financial situation will put me over the top. Is it greed that is making these lenders pump up the rates every few months? In times of a national crisis, such as these, what options do I have to get the lender to go back to 7.5%? My current credit score is 560. Is filing bankruptcy an option? Any ideas anyone?

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Subprime Interest Rate Woes

    There are some debt relief programs under consideration by Congress, and soon to be available through the FHA, which may help you refinance.

    1. Sponsored Links

Similar Threads

  1. Max Annual Interest Rate a Buy Here Pay Here Car Lot Can Charge
    By itsjustme in forum Cars and Dealerships
    Replies: 2
    Last Post: 07-12-2011, 11:47 AM
  2. Debt Collectors: What is the Implied Interest Rate on a Loan with No Interest Rate Specified
    By Whiterhino in forum Debts and Collections
    Replies: 1
    Last Post: 04-25-2011, 10:54 AM
  3. Banking: Getting Out of a Bad Interest Rate
    By 6ftsoccermom in forum Personal Finance And Investment Law
    Replies: 3
    Last Post: 03-05-2009, 08:02 AM
  4. Financial Transactions: Rate Per Period Interest Rate Calculation
    By Da_Rooster in forum Personal Finance And Investment Law
    Replies: 2
    Last Post: 01-30-2009, 03:49 PM
  5. What is the Interest Rate in California
    By RobNYC in forum Civil Procedure
    Replies: 1
    Last Post: 10-25-2007, 07:29 AM
Sponsored Links

Legal Help, Information and Resources