Skip to main content
index page

I think I have been a victim of mortgage scam. - What to do

Submitted by KeithLyon on Thu, 04/19/2018 - 22:02

I have taken out a mortgage and I think the rates are high not due to any credit issues.
What should i do?

This is why you should compare rates before taking out a loan. Anyway, talk to your lender first and then go for modification or refinancing whichever is suitable.

Submitted by Good Nelly on Fri, 04/27/2018 - 07:13

Good Nelly

( Posts: 2846 | Credits: )

Okay. You have 2 problems. Your first problem is that you woe $15000 on 4 credit cards. Your second problem is that you're paying high interests on mortgage.

Solution: Do you have equity in your home? If so, then you can use cash-out refinancing to pay off your mortgage and credit cards. But in this case, check the interest on your new mortgage. The interest should be lower than your present mortgage.

In a cash-out refinancing people take out a new and bigger loan for repaying their existing debts.

Submitted by SC on Tue, 05/01/2018 - 23:15


( Posts: 3937 | Credits: )

Well, as SC has suggested, cash-out refinancing is an option.
You can also opt to repay your credit cards with the help of consolidation and/or settlement. Weigh the advantages and disadvantages of each of there options and make the decision that suits you the best.
I would suggest you compare both these options and if required, talk to a person who can help you out!

Submitted by Mabelle Page on Thu, 05/03/2018 - 07:09

Mabelle Page

( Posts: 295 | Credits: )

Add new comment

Restricted HTML

  • Web page addresses and email addresses turn into links automatically.