We as many started out with Countrywide who then sold to EMC, as you all are aware that is when the war began.
We experienced much of the same as I have seen others post, and the deceptive and unfair trade practice are nothing short of finiancial "rape".
In May we received a letter from EMC stating that our monthly payment would be increasing on July 1, the increase was over $1000.00 and the interest rate would be 11.5%. This interest rate along with the monthly payment had no ceiling, hence every 6 months it would be evaluated and most likely would increase.
So we stepped into action and worked to secure re-financing and was able to do so with a closing date of July 8th.
Interesting however, we are receiving call after call from Bear Sterns, I have yet to answer the call but plan to now that I have all the information I need to counter each and every statement, comment and or suggestion they may throw my way.
Along the way I picked my battles and now can say I won the war!
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