Frank V

Banks Using Leverage to Force Home Equity Repayments

I have an interest only first and an interest only second. I asked to refi to one loan that was fully amortizing and and would gladly pay PMI. I have a credit score above 680 and the loan would be full doc. They said no unless I lower the LTV ( the property value has dropped a bit ). Thanks a lot, I can see where banks want to help!