• refinance.
  • Move your mortgage to another company and get a fixed rate for as many years as you are able.
  • Probably not. Ask yourself, would I loan money to my friend if I couldn't be sure he would pay it back? How about if he promised to pay it back plus 5%, 8%, 10%? Which promise would you want? We were able to obtain a lower interest rate when we substantially increased our downpayment and paid a large upfront fee (points) a few years ago. It never hurts to keep re-evaluating the market value of the home, and the loan industry, plus your re-payment record. Bad credit doesn't last forever.

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