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Lawrence Said:

How can I convince my mortgage lender to lower my interest rate?

We Answered:

You really have no control over your interest rate. You can try to plead that you don't have the money if it increases, but... tough ****. You can try to compare interest rates in your area, but it won't do any good because the terms of the loan you signed are unique.

That's the entire point of an ARM, the interest rate stays low for the first few years, then is subject to increase after that. Sorry if you don't understand this, but that is not your lender's fault.

You're not alone (millions of borrows don't understand the terms of the legal documents they sign regarding mortgages), but that might not give you much comfort.

Julio Said:

Can my mortgage lender take away funds from my checking account without my permission?

We Answered:

Check your contracts on both the mortgage and the checking account. You probably agreed to this when you signed them. If you're behind on your mortgage, then yes they can take the money from your checking to pay the mortgage.

Georgia Said:

Can a mortgage lender evict a tenant for a property that they don't have ownership?

We Answered:

Yes, the mortgage lender has rights to property for which it holds the mortgage. That can include eviction. It has a responsibility to protect the property until the mortgage is paid off & the owner assumes full control.

Manuel Said:

Can a lender from a second mortgage put a lean on my current house?

We Answered:

Yes, it is called a deficiency judgement.