One thing I learned in life is that when a person needs help they need to ask for it. This may not be earth shattering to some, but it is important for me to accomplish. Through my many years working in law enforcement and part time in Nursing, I have learned that everyone needs help from time to time and those that say they do not are lying.
I am attempting to raise $6,000.00 or a portion thereof to refinance a sub prime mortgage I have had on my home for the past 7 years. I was not in the group of people that took out a loan I couldn't afford but rather a recipient of a loan given to me which the criminals on Wall Street slung out to millions of people back in the early to middle 2000's. With that, I have had a term of 10.75% interest for the past 5 years or so. Unfortunately, I was never able to refinance as the value of the home decreased and under the more rigid guidelines I have been unable to refinance into a more conventional term loan until now!
The current holder of the mortgage (HSBC) is brutal and unwilling to work with myself or any individuals in this situation so with that I will FIGHT BACK against the Bank. I could have been like many other Americans and backed the moving truck up and walked away but I did the right thing and took on a 2nd job for the past 5 years. Through principal reduction and housing values appreciating, I am FINALLY at a point where I can refinance. Unfortunately the closing costs are close to $6,000.00 and I can't roll them into the loan as that would throw the 10% equity requirement off. The reason I haven't been able to save money for the closing costs over the years is because I have been paying 10.75% interest to the Big Banks on their sub prime loan.
No financial institution in America deserves to have interest paid to them like I have for 5 years now when they are unwilling to work with individuals to assist in modifying the terms of an outrageous interest rate. With that, I can't wait to finally "walk away" from that Bank and tell them they can ^&%#*^%$!
I stuck this out as that is the way I was brought up, had a tough 5 years or so working 2 jobs but now can put all that behind me once I refinance this Hell mortgage the Crooks gave me years back and refinance into a conventional 3.72% rate I have worked so hard to achieve for the past 5 years. Thanks for reading and any help that you choose to give.