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2nd Mortgage Lowered Interest Rate?

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    #1

    2nd Mortgage Lowered Interest Rate?

    Ok, so I logged on to my creditor websites this morning cause I'm bored at work... most of them have locked me out. Capital One appears to be clueless so far... however, I noticed something odd on my Credit Union's web account.

    I have a checking and savings account with them...I managed to get all my money but 10 dollars out before they locked it down... lol they only got 10 bucks....anyhooo I pulled up my second mortgage account and I noticed on 6/16 they lowered my interest rate down over a point.

    Why in the world would they do that when I'm (hopefully) never paying them again? I had been begging them for months and months to help me and do some kind of loan work out then finally when I decide I have to file, now they lower the interest rate??? The dropped it from 8.7 to 7.3 ...
    BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
    Scores: EQ 745 EX 704 TU 710 as of 08/15/2012
    Tags: None
    #2
    I guess nobody has any insight to this?
    BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
    Scores: EQ 745 EX 704 TU 710 as of 08/15/2012

    Comment

      #3
      It could just be an ARM adjustment.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

      Comment

        #4
        No, the loan was a fixed 15 year. Guess I'll never know... lol.
        BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
        Scores: EQ 745 EX 704 TU 710 as of 08/15/2012

        Comment

          #5
          Originally posted by Amy26 View Post
          No, the loan was a fixed 15 year. Guess I'll never know... lol.
          Even better.
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog

          Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

          Comment

            #6
            Well they just locked me out of my online account access...so they obviously didn't like me poking around in there!
            BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
            Scores: EQ 745 EX 704 TU 710 as of 08/15/2012

            Comment

              #7
              Originally posted by Amy26 View Post
              Well they just locked me out of my online account access...so they obviously didn't like me poking around in there!
              My lender hasn't locked me out, but the information online is very dated (from early 2008).
              Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
              Status: (Auto) Discharged and Closed! 5/10
              Visit My BKForum Blog: justbroke's Blog

              Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

              Comment

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