Bac and a co worker.
My friend works 2 jobs. She is 57 and got into trouble with the house when her husband died. Needless to say she did save her house through BAC. Terms of loan is a 19 year intress only adjustable rate. 3.4 for one year. 4.3 for 2 years after that and so on until at 7. something fix rate is met. for the next 19 years from now. Then it will be intress plus the house cost.
I am glad she saved the house. However it will be nice to know how many other loans Bac and others Banks are making that are like this. The rules just keep changing and like she says who knows what will happen in the 19 years. Got to love transparency of the Banking System and of Government.