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Started By
Message
Mortgage help
Posted on 6/11/26 at 2:56 pm
Posted on 6/11/26 at 2:56 pm
So I bought a home in the past year through one mortgage group. About 4 months later they, I guess, sold my mortgage to another company.
Whatever, nothing changed except a slicker on line payment system.
Well now the new mortgage group is aggressively contacting me that they can reduce my monthly payments by and my rate by .5%.
I guess im confused. I want to trust that the company is doing what's best for me but I dont see how they are making money off giving me a deal.
Does anyone here know about these moves and procedures? Is it a type of scam?
TIA
Whatever, nothing changed except a slicker on line payment system.
Well now the new mortgage group is aggressively contacting me that they can reduce my monthly payments by and my rate by .5%.
I guess im confused. I want to trust that the company is doing what's best for me but I dont see how they are making money off giving me a deal.
Does anyone here know about these moves and procedures? Is it a type of scam?
TIA
10
Posted on 6/11/26 at 3:03 pm to vilma4prez
What’s the mortgage company
Posted on 6/11/26 at 3:06 pm to vilma4prez
They probably can through refinancing but that has an upfront fee associated with it. Typically for it to make sense it needs to be 1% change
Posted on 6/11/26 at 3:08 pm to vilma4prez
What are the terms? Any closing costs/fees?
Posted on 6/11/26 at 3:13 pm to vilma4prez
quote:
Well now the new mortgage group is aggressively contacting me that they can reduce my monthly payments by and my rate by .5%.
For only .5% rate reduction; unless you have a very large mortgage it is likely not worth it
Posted on 6/11/26 at 3:13 pm to vilma4prez
Sounds like they’re trying to either sell you a refinance or offer a loan modification. Could be beneficial, or it might not. Personally I’m very skeptical when people try to sell me things. Review all the numbers closely before you bite.
Posted on 6/11/26 at 3:38 pm to VermilionTiger
Amerihome is the company.
And it would cut about $220 a month on payment.
And it would cut about $220 a month on payment.
Posted on 6/11/26 at 3:43 pm to vilma4prez
They want fees. They will reduce your rate by .5%, but put their fees inside the new mortgage.
Posted on 6/11/26 at 4:02 pm to vilma4prez
and would you be extending the mortgage back out to 30 years or whatever? They are wanting you to pay more in interest due to now having more time left on the mortgage and closing fees.
Posted on 6/11/26 at 4:06 pm to vilma4prez
Get you to spend $5,000 on refinancing your loan to save $220/month and then they will sell you mortgage to the next buyer and make even more off you.
Just give it time, they will sell you off (again) after you keep declining their refinance offers lol
Just give it time, they will sell you off (again) after you keep declining their refinance offers lol
Posted on 6/11/26 at 4:29 pm to vilma4prez
Ask them how much they would reduce your rate and what would be your monthly payments would be for a 15 year note.
Posted on 6/11/26 at 5:03 pm to vilma4prez
Ask them if they can just not charge you for .5% of the interest since they are so adamant about it.
Posted on 6/11/26 at 5:15 pm to Roy Curado
quote:
Just give it time, they will sell you off (again) after you keep declining their refinance offers lol
I bought my house in April of 2022. My loan just got bought out (again) a couple months ago. This is the 5th time it's been bought out. It's annoying trying to keep up with it and register new accounts. Then remembering which company held the loan for which months of the year so I can get my tax statements the following year.
Posted on 6/11/26 at 9:00 pm to vilma4prez
you’ve gotten very good advice
to recap:
Ask them for a quote on a new 15 year note, and to list all fees and costs. If it doesn’t look attractive, tell them no thanks and they’ll sell your note soon enough. Then try again.
Your goal should be either fewer years or a substantially lower note on the same years
to recap:
Ask them for a quote on a new 15 year note, and to list all fees and costs. If it doesn’t look attractive, tell them no thanks and they’ll sell your note soon enough. Then try again.
Your goal should be either fewer years or a substantially lower note on the same years
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