If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Re-negotiating with SubPrime Lender ?

cadrjr · 2009-06-01 13:56:32

Hi, I foolishly got a subprime mortgage 1.5 years ago. My Mortgage advisor said rates were sure to rise, so I got a 3 year fixed loan - at 8%!. Since then obviously rates have plumetted and my ability to pay has declined with the recession. I presume there are a few others in a similar situation. I would love to hear from…

01-06-2009 1:56pm

#1

cadrjr

Registered Users, Registered Users 2 Posts: 16 ✭

Join Date: January 2008

Posts: 5

Hi,
I foolishly got a subprime mortgage 1.5 years ago. My Mortgage advisor said rates were sure to rise, so I got a 3 year fixed loan - at 8%!. Since then obviously rates have plumetted and my ability to pay has declined with the recession.

I presume there are a few others in a similar situation. I would love to hear from anyone who has had any success in getting a rate redution in recent times from a sub-prime lender. My logic is that it would be better for me to successfully continue to pay a lesser repayment rather than default - with all that that entails.

R

0