Will the Feds lowering of the prime rate by .75 point help any of us at all? Think there's a possibility of getting our interest rates lowered?
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Wondering that myself. I have an ARM due to reset in May (a little more than 1 year out of bankruptcy) but I heard a newscast with a commentator saying real estate market is slow to respond with interest rate drops to Fed readjustment, but some credit card rates may be tied to Prime. But you may need to call to ask for the lower rate...banks sure are quick to push it up with no delay, though, aren't they??August '05 Business failed.
Spring '06 Found this site, thank heavens
Chap 7 (no asset) filed 11/10/06; 341:1/31/07
disharged 2/26; closed 4/17/07 -
Anyone with a short-term ARM about to reset will be benefited.Comment
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I have a variable rate HELOC which I reaffirmed in BK.
It's like 10.5%. Will I get any relief?Filed Ch. 7 June 14, 2007
341 Meeting July 19, 2007
Discharged September 17, 2007
Closed September 17, 2007
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The new law only applies to people with no past late payments of earlier defaults only? If you are not late/default, then contact your local county real estate agency/bankers/RE agents, etc. to find out more how to apply for reset-refinance. But I don't know how your BK court rules out or allow you to refinance or not?Comment
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