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JP Morgan Chase offer to lower mortgage rate!!!

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JP Morgan Chase offer to lower mortgage rate!!!

Old 05-31-2012, 02:49 PM
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Default JP Morgan Chase offer to lower mortgage rate!!!

Wife and I recently began process to do a cash out refi on our small mortgage so we can replace a 45 year old furnace, replace an old fence and maybe redo the driveway. The cash out is only for about 15k and our JPMC rate has been 5.875. The local credit union is at 2.875 for 10 years. The closing is coming up soon and JPMC must have got a buyout call from the credit union because 15 minutes ago we just got o FEDEX package from them offering to lower our rate to 3.875 with no closing costs. Point is if we had called them to request a lowering of the rate they would have ignored us because we have just been paying the 5.875 without complaining for 7 years. Needless to say my wife just chuckled and put the package in the trash. payment with the cash out @ 2.875 will be the same as current JPMC payment.
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Old 05-31-2012, 03:14 PM
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Old 05-31-2012, 05:01 PM
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3.875% is still high for a fixed rate 10 year, as I that was my rate for a 30 year fixed with zero closing costs back in December.
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Old 05-31-2012, 05:05 PM
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Originally Posted by hottoddie View Post
Wife and I recently began process to do a cash out refi on our small mortgage so we can replace a 45 year old furnace, replace an old fence and maybe redo the driveway. The cash out is only for about 15k and our JPMC rate has been 5.875. The local credit union is at 2.875 for 10 years. The closing is coming up soon and JPMC must have got a buyout call from the credit union because 15 minutes ago we just got o FEDEX package from them offering to lower our rate to 3.875 with no closing costs. Point is if we had called them to request a lowering of the rate they would have ignored us because we have just been paying the 5.875 without complaining for 7 years. Needless to say my wife just chuckled and put the package in the trash. payment with the cash out @ 2.875 will be the same as current JPMC payment.

Same exact thing happened here. Chase isn't going to give no one the oppurtunity for chit they have to think they're going to loose some $ in order to offer someone something. I loved my loan from Washington Mutual and then these arseholes from Chase ended up with it when WM went under.
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