[quote=Former SD resident]1. 5.125% and 265K (with 20% equity)[/quote]
In most cases servicers do not own the loan and could not care less about losing a loan.
The reality is that most people who stick with their current lender get screwed by staying with them. Most take advantage of the situation. BAC rates have been terrible lately.
Existing loans get paid off and new loans require qualifying to get the best rates. Can’t just modify an existing loan for the best rate.
With your balance, you will save around $3000 in interest JUST THE FIRST YEAR, and it can be done at zero cost, and you may end up with additional credit.
(you are wasting $8 a day in interest at your current rate)
