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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]decent rates, stellar closing rates and not feeling like we were being taken with all kinds of last minute fees...

HOWEVER- Navy FCU sold our mortgage and the value of our house went waaaaay down and we have been unable to refinance, so we are paying what is now a high rate, always padi on time etc. but stuck with a relatively expensive mortage on a house that has 20% value.

[b]had a real bank held the mortgage we could have refinanced[/b]
possibly this would not apply at the current rates and housing prices, so go ahead[/quote]

Have you been living under a rock for the last five years? "Real banks" also resell mortages. In your case, it is the decline in fair value of your home that prevents you from refinance.

People need to live with in their means, and stop blaming others.

[/quote]

lots of assumptions there sweetie.  not living beyond our means. just paying higher interest rates, than we'd like to. it would have been easier to refinance if the mortgage is someplace identifiable.  like a good old fashion local bank. not so many of those around. but if you want to call this thing we're paying the mortgage on a rock, go right ahead. i guess it's a rock with a newish roof.[/quote]

Are you implying that if your mortgage was still with NFCU or with some "good old fashion local bank" that it would be easy to refinance even after your home "went waaaaay down"? The answer to that is a resounding "no." Or, "noooo." What was impeding your ability to refinance was your home's value relative to your equity, not the institution that held the mortgage.*

And, look up "living under a rock." It's an expression; PP was not insulting your house.
*Well, unless it was Bank of America. They are complete assholes about everything.[/quote]

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