Reaffirming High interest mortgage

What is the name of your state? WI

I filed chapter 7 bankruptcy and I have a question about my mortgage. I completed and signed a reaffirmation agreement with Household Mortgage Sevices. I mailed it yesterday. 2/ 26/03 (The original loan was at 9.53%. When I purchaced my home I used a mortgage broker to find a no money down loan.) I see in the reaffirmation agreement that I can rescind the agreement within 60 days of it being filed.
I wish I thought of this before I mailed the agreement back to Household!**************...... Are mortgage reaffirmations non-negotiable, or can you try to get the mortgage company to give you a better interest rate? Mine is quite high. The house is only worth about 63,000. It needs a lot of remodeling. A lower interest rate would help me save money for remodeling, etc..
Do mortgage companies even consider lowering such a high rate to save the trouble of repossesion of the home?
Any advice on this issue would be greatly appreciated.
Thank you, Tom

[HomeGuru]

[quote]Originally posted by Romans10
[b]What is the name of your state? WI

I filed chapter 7 bankruptcy and I have a question about my mortgage. I completed and signed a reaffirmation agreement with Household Mortgage Sevices. I mailed it yesterday. 2/ 26/03 (The original loan was at 9.53%. When I purchaced my home I used a mortgage broker to find a no money down loan.) I see in the reaffirmation agreement that I can rescind the agreement within 60 days of it being filed.
I wish I thought of this before I mailed the agreement back to Household!**************...... Are mortgage reaffirmations non-negotiable, or can you try to get the mortgage company to give you a better interest rate? Mine is quite high. The house is only worth about 63,000. It needs a lot of remodeling. A lower interest rate would help me save money for remodeling, etc..
Do mortgage companies even consider lowering such a high rate to save the trouble of repossesion of the home?
Any advice on this issue would be greatly appreciated.
Thank you, Tom

**A:I have done a lot of loan modifications and affirmations. It is up to the lender to accept or reject. Many lenders have already sold the loan and are not in a position to negotiate.

Thanks for the advice. I appreciate it. The loan was sold to the current company and they have not said anything about it being sold again. I think I'll try to negotiate a better interest rate. All I can do is give it a try. Tom