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Chase Mortgage Rate Reduction Program - received via fedex overnight delivery
Posted on 6/15/11 at 9:29 am
Posted on 6/15/11 at 9:29 am
So i received a packet from chase to participate in their Mortgage Rate Reduction Program. They sent it overnight fedex and say i have to respond within the next few days to get my locked in lower rate (4.8%).
Apparently they pay all the closing costs and any other costs/fees.
I called and it sounds legit but seems a little to good to be true.
Anyone have any experience with this? Anything i need to be concerned about?
Apparently they pay all the closing costs and any other costs/fees.
I called and it sounds legit but seems a little to good to be true.
Anyone have any experience with this? Anything i need to be concerned about?
5
Posted on 6/15/11 at 9:51 am to bradwieser
I received this too and was wondering the same thing. I have been meaning to call and check the legitimacy of it but have not had time.
Posted on 6/15/11 at 12:06 pm to bradwieser
I did it and know several people who did it. Theres no strings attached. It cut my interest by $50 per month.
Posted on 6/15/11 at 12:14 pm to bradwieser
Like you, we thought it was too good to be true, but it isn't a scam.
It was painless and there were no closing costs. They even had a notary come to our house to do the closing at a time convenient for us.
We also opened a checking account with them and have the mortgage payment drafted from there each month. We will get a 1 percent rebate (based on the mortgage payment) back at the end of each year.
It was painless and there were no closing costs. They even had a notary come to our house to do the closing at a time convenient for us.
We also opened a checking account with them and have the mortgage payment drafted from there each month. We will get a 1 percent rebate (based on the mortgage payment) back at the end of each year.
This post was edited on 6/15/11 at 12:16 pm
Posted on 6/15/11 at 12:19 pm to ProudLSUMom
nice, thanks for the info folks
Posted on 6/15/11 at 12:35 pm to bradwieser
Is your house already financed with chase or do you have accounts with them? I'd like to get in on this if possible.
Posted on 6/15/11 at 12:51 pm to LSUGUMBO
It is only for loans currently held by chase. But All the big banks are doing it. Nothing new not a scam.
Posted on 6/15/11 at 2:48 pm to bradwieser
My ex called me about this the other day, they had offered the same thing to him. I told him to jump on it.
Posted on 6/15/11 at 4:53 pm to cjared036
quote:
It is only for loans currently held by chase. But All the big banks are doing it. Nothing new not a scam.
Makes me question the quality of the existing loan documentation that the TBTF banks are offering to refi out of the goodness of their hearts.
Posted on 6/15/11 at 10:35 pm to tirebiter
Banks offer this from time to time for good paying customers with higher rates. This keeps the customers with them and keeps them from refinancing with someone else. Closing cost ain't shite compared to what the bank makes in interest over the life of the loan.
A friend of mine did it with Wells and it was 100% legit.
Sign it and send it back and i think it is done
Good luck
A friend of mine did it with Wells and it was 100% legit.
Sign it and send it back and i think it is done
Good luck
Posted on 6/15/11 at 11:54 pm to bradwieser
I got this. Went from 4.25% to 3.75.
This post was edited on 6/15/11 at 11:55 pm
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