The Seller signed the new mortgage last week, but
not the 8% that was first proposed.
I'm not good at math, but I think the 6% to 10% works out better for the lender.
Quote:
Originally Posted by Sue Doe-Nym
Is there any possibility of her getting them to lower the loan rate from 8%? Obviously, her credit is a problem, but 8% seems outlandish. Maybe that’s the best she can hope for. Too bad to be trapped in a corner.
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I spoke by phone with the lender—an attorney. He said what we probably all suspected:
Quote:
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"She will only leave that house feet-first".
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