California  |  Real Estate Law

Legal Question

Asked on: 5/15/13, 12:53 pm

I have a home in California and have been with GMAC for years with a 1% loan for 30 years. My loan has recently been acquired by OCWEN which sent me a notice recently that as of June 1 my interest rate will now be 2%. Can they do that, or does my GMAC arrangement have priority and should remain in place?

Thank you.

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