Q&A: Why my mortgage company wants to refinance?

Question by : Why my mortgage company wants to refinance?
I currently am a year into my loan. My mortgage was sold, the new company said there was an issue with the loan the first time and i have no choice but to refinance. They will give me a .25 percent off the interest. It all sounds suspicuous, any ideas?

Best answer:

Answer by My Take on It
I would want to know what the *issue* was.
It does sound odd to be told you have NO choice but to refi.
Very weird.

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2 Responses to Q&A: Why my mortgage company wants to refinance?

  1. Judy says:

    I’d be suspicious too. Sounds like some of the original paperwork is lost or something, so they’re unsure of some of THEIR rights. If you have all of your paperwork, you shouldn’t HAVE to refinance. But if they’re giving you a break on interest, you might come out ahead. Don’t do it for a rate that’s not at least as low as current rates or a little lower.

  2. georgine silos says:

    I was in a similar position a few weeks back. I was able to find help here – http://www.loansresources.tk

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