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Ruby the Liberal

(26,219 posts)

6. Be sure and tell them it will be a first line

Reply to dixiegrrrrl (Reply #5)

Tue Mar 19, 2013, 08:43 PM

Mar 2013

They will likely want to open it for 80% LTV. You can lock in the amount you need to pay off the mortgage and it gives you preapproved credit overhead (tax deductible) at prevailing rate if/when you need it.

You know the old addage - they will give you credit when you don't need it, but not when you do.

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24 replies

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Did Bank of American sell the servicing rights to your mortgage yet? [View all] dixiegrrrrl Mar 2013 OP

we pay for the loan and they make profits off us every time they transfer. where is OUR share of msongs Mar 2013 #1

Yup, just found out yesterday sharp_stick Mar 2013 #2

If you have the equity Ruby the Liberal Mar 2013 #3

Hey Sis....that is a good idea.. dixiegrrrrl Mar 2013 #5

Be sure and tell them it will be a first line Ruby the Liberal Mar 2013 #6

Small, local lending institutions are not much better . . . fleur-de-lisa Mar 2013 #4

yes. sold to green leaf more then a yr sgo. gawd help you Liberal_in_LA Mar 2013 #7

From all the complaints I have read, dixiegrrrrl Mar 2013 #8

the best thing to do is auto pmt from your acct. i trigger the payment Liberal_in_LA Mar 2013 #14

Did you have any more problems with them after that was straightened out? dixiegrrrrl Mar 2013 #9

no, no more problems Liberal_in_LA Mar 2013 #13

Green Tree has been servicing my mortgage for two years with no problems hack89 Mar 2013 #10

That's good to hear. dixiegrrrrl Mar 2013 #11

Mine was just sold again, this time to Ocwen, which supposedly is THE worst of the worst... winstars Mar 2013 #12

they seem to want you to miss payments. it's their business model Liberal_in_LA Mar 2013 #16

my loan was sold to ocwen shanti Mar 2013 #22

also - the annual proof of insurance letter is very unfriendly and threatening Liberal_in_LA Mar 2013 #15

BOA DID try the forced place insurance trick. dixiegrrrrl Mar 2013 #19

We are not BoA but ours was just sold to them too! Phentex Mar 2013 #17

Update: Not to Green Tree sharp_stick Mar 2013 #18

ahhh yes..Nationstar..... dixiegrrrrl Mar 2013 #20

never heard of them Liberal_in_LA Mar 2013 #24

Yes, they did this... onyourleft Mar 2013 #21

Wells Fargo FreeJoe Mar 2013 #23