Our Mortgage company offered to refinance us under the HARP program. We are approved two different ways.
20 yrs. @ 5.175% $988.00 a month
OR 15 yrs. @ 4% $1100.00 a month.
Our current loan is at 6.87% with a payment of $1013.00 a month (all payments include taxes & insurance)
Will the judge allow use to increase our payment by approx. $80 a month? Husband received a raise last March but it was well under the threshold that the courst allowed us to receive. Plus, we gave the court his entire bonus of $6,700.00 in March to apply to all the debts. We are currently on tract to pay back 88% of the debt and our final payment is on Feb. 24, 2014 or about 7 months away.
What do you think....will they object to us making a slightly higher payment?