A few weeks back we told you it’s coming and we’re a little over a month away, forbearance begins December 1st. That’s why we’re repeating our forbearance article from a few weeks back. So here we go…
We’ve been telling you for a while and if you are even thinking about a refinance, stop dragging your feet and contact us today. Why you say? Well come December 1st, lenders that lend through Fannie or Freddie will be required to tack on an adverse market fee. This is a fee that adds 0.5% of the total loan amount to each loan they close through one of these government agencies. You may remember this first came out back in August for about a week but was pulled back. Now it’s here and it’s real.
So, what can you do? First, don’t panic. We have 30 days before this fee kicks in and that means you need to lock in your rate now! In fact, we’re seeing that some lenders have already put this fee into their loans, but not here at Mortgage Gumbo and that is why our rates are so low.
If you are looking to refinance, and why would you not with the historically low rates that are out there, we can help and still get you that low rate without the adverse market fee. The easiest way is for you to go to SnapSendandSave.com, give us a little information, and we will have you on your way to saving on your home mortgage.
Remember, December 1st all things change. So, take advantage – contact me, Dwayne Stein at [email protected] or call me at 504-207-7600.