Excel Siorbiz Blog Site

To be honest, I knew nothing about mortgages when I bought my little condo five years ago.  All I knew was that I got a great price and the payment was very low.  My mortgage broker told me not to worry about the adjustable rate because interest rates would probably go down.  When my employer went out of business and I lost my job, interest rates doubled at the same time.  Soon I couldn’t afford my mortgage payments and was broken hearted.  One day my neighbor suggested I try a loan modification to lower my payments.  I had nothing to lose, so I talked to my local bank, who helped me refinance at a lower rate.  Even with my new job and lower salary, I can afford to keep my condo, thanks to the bank’s help.