Rob Cochems's Q&A

It is fantastic.Just for the luxury of receiving an audit from Washington state, you get the great honor of paying for their airfare to come and catch up on old times.

Or, imagine, being able to be magically whisked away to... Delaware.Hi. I'm in Delaware

If you need a friend, get a dog.

Still waiting for my twelver...

The interest rate, is the actual rate of interest you will be paying on the money borrowed.  The APR is designed to reflect the total costs of borrowing.  The APR takes into affect your rate and certain costs associated with the loan, i.e. origination fees, processing fees so forth.In comparing loan quotes I would be more concerned with comparing the interest rate and total closing costs with each lender.

Out of curiosity can you let me know your loan amount and the term, i.e. 15 or 30 year fixed?

Do to the fact you are Freddie Mac, you must refinance with your current servicer.  Even though the program has been enacted, every servicer does not have it available yet.  The have up to 12/31/09 to implement the program.Just stay in touch with them, they will get it up and running eventually.

hulababe,You have any idea what your credit score is?  What is your loan amount and property value also?

You may want to check on your servicer's processing time for subordinations.  If it is 8 weeks, you may want to adjust your lock time, which will affect your rate as well.

George,Your loan is Freddie Mac, so you must refinance through Ditech.  On there Freddie Mac program, they run an automated approval called Loan Prospector, which determines your value.  If it approves you there is no appraisal or income documentation needed.The issue is, is that the automated system is saying your home is worth 211K, so you are not being approved.  When a loan is not approved at Ditech, they cannot order an appraisal, as their system will not allow a loan officer to order an appraisal on a deal with no approval.So the only solution you have would be to order your own appraisal, if you really believe your home is worth 260k.No one is trying to pull anything over on you, its just the way Freddie Mac designed their refinance program.