can i re-negotiate my mortgage to lower interest rate without refi? ?
by Mortgage Rates on Thursday, October 14th, 2010 | 2 Comments
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Talk to your lender. Only there will you find the answer.
Nope. You have no negotiating power when you are already bound to a contract.
You should refi if you can get a better rate, and the fees are not horrendous.
Back when rates were dropping, and everyone was looking to refi to get a lower rate, my mortgage company did a no cost refi for me in order to keep my business. If they hadn’t, I would have refi’d with another company. Well, it cost me $35 to record the closing of the old loan. No fees for the new loan. You have to be careful that they don’t add on all sorts of fees to your principal balance when you refi.