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Bet you thought sub-prime mortgages were over, eh?
I just got offered one this morning.
You probably heard BOA sold mortgage servicing rights to Green Tree Serving. LLP.
Green Tree is notorious for consumer complaints and for having bought a LOT of sub-prime loans, along with some prime loans.
So as of May 1, Green Tree is our mortgage servicer.
16 days later, a BIG, IMPORTANT OFFICAL piece of mail comes in the door, with an offer for a re-fi.
So I called them today, just to see what is what.
The sales guy seemed all happy and said I could get a no income, no credit check 20 year 4.2% APR fixed re-fi.
So instead of servicing a mortgage that apparently is in some trust at Fannie Mae,
they would be the direct lender.
Some things never change...............
