I filled a four page questionnaire to see if we could lower our current interest rate of 7.75%. I was contacted by a flagstar rep that said we were approved for a new 4.9% rate with no closing cost.
I would also like to mention that in the three years that we have owned our home we have NEVER missed a payment! We were thrilled to be saving the much needed income. However, just a week later we were informed with out explanation that flag star could not help us after all??? What could we do?
No one is offering loans right now, especially since I have gone back to school and we are a single income family of four. Thanks for nothing flag star.