It is illegal for a bank to change raise my FIXED mortgage rate?
Written By: admin on November 3, 2009
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Recently the bank that my mortgage loan is through went bankrupt. My mortgage loan was transferred to Bank of America. Initially, i had a 30 year fixed mortgage rate and now B.O.A is saying that my payments are nearly 500$ more than they initially were. Is this illegal for the bank to do this?
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