Can I Get A Reduction In My Mortgage Interest Rate, If My Monthly Payments Is More Than 31% Of My Income?

Posted by FHA Mortgage
December 20, 2009

I heard this the other day on the suze orman show that, if your mortgage, insurance and property tax, is more than 31% of your income you can ask your bank for a reduction in your interest rate. Is this true, and if so what’s the catch?

Interest-Only Mortgage

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