I have a 1998 Jeep Grand Cherokee Laredo with 160,000 miles…own a home that is upside down…and we are in an arm that is 7.5 and going higher I suspect…..ahmsc are a bunch of crooks…( I dare anyone to compare the Libor rate in the NY times to the rate the day American home mortgage servicing company AHMSC raises rates…In order to refinance..we have to put up 10 to 12 thousand in cash…so we pay our 8.5 + adjustments like good republicans…….however…I am taking advantage of OBAMA’S little incentive…..we do, every now and then…have to use a tire iron to bang the battery cable if it does not start…and…our driveway is littered with oil marks..we just paid off a pontiac vibe…365 a month car payment…we felt relief to have that gone…if we could refinance our house…and get a consistent rate…we could feel comfortable buying a new (2nd) car..however…skanks…like bruce rawen with drew mortgage in MA…switched us into a Adjustable rate mortgage at the closing table……(imagine that)…740 credit score…(why did that happen) and now we are just hanging until we can get equity…cause 5 years later…the market has dropped….bottom line is this…we haven’t dumped our mortgage like everyone else…we got shanked by a lying mortgage broker who should be jailed…so WE will cash in and take the $4500. and get screwed by some car dealer who has convinced us to by a jeep patriot for 15500 with the cash for clunkers trade in…which is what someone without the cash for clunkers would pay…bottom line is….unless you are a savvy sob…you are going to get screwed.
