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Question DetailsAsked on 9/25/2013

I am looking to modifiy my morgage, Granite Law LLP wants to charge me $1700 to do so. Has anyone used them?

Granite Law LLP is a law firm that provides legal services for home modification loans. They replace the loan manager at your current morgage company. This according to them ensures the paper work is done right and the morgage company dosent play games so you get the lowest intrest rate that lowers your monthly payment for the life of the loan at a fixed rate that helps you not whats best for the bank to make money off your loan. Its a one time few, nothing changes I will have the same morgage company I still own my home just my payments change to help us afford them long term.

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Hello, this is Kiel from Angie's List. As of right now, the purpose of our site is to focus on providing the best information possible in regards to home and health providers. At the current time we do not offer information on attorneys or lawyers. I apologize for the inconvenience in this matter. Thanks so much,

Answered 4 years ago by KielH

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Baloney - NO WAY the mortgage company would let a law firm or anyone else replace their due diligence and loan managers. The most an intermediary like this can do is nogotiate your loan rate and term with the company, to try to get you a better rate - which almost alwyas comes with "points" - an up-front payment to redo the mortgage, and a much longer term so the company still gets as much present-worth profit in the long run.

Your best way to get the best rate is shop around for mortgage rates and fees - you can always choose whichever one you want and go to another lender to get a new mortgage which pays off your old one - but unless rates are more than at least 1-2% lower than your current mortgage, or unless your current one has escalation factors (rate can rise), it will rarely come out better for you.

You can use free mortgage calculators at sites like bankrate.com to put in your current and any competing mortgage points, fees, rates, and term to determine which is the best deal or what the monthly payment will be.

Answered 4 years ago by LCD




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