Is it possible to change mortgage companies without refinancing?
Our mortgage was sold to a really crappy company. We have thought of refinancing, but then we realized we have a really good rate for another 18 months (we have a 5 year ARM) and won’t be able to find anything as low as we have now. It’s completely unfair that we don’t have a say in who gets our mortgage. I doubt we can have someone else buy it, but it was worth asking the question. See my question about filing a complaint against a mortgage company and you’ll see why I hate them. A: I would still consider the refinance. Yes you have a good rate for 18 months. But you also need to understand the market. Has your property value increased? If not, you may not be able to refinace now or in the future since you have not paid any principle for the past 3.5 years. Are you 100% sure your not upside down? The other point here is stop thinking about rate. Term is just as important here, maybe more so, rate doesn’t put food on the table, total monthly payments do. Your payments are going to doub
