Posting Under a throwaway account because I don't want to be known. Like so many others... we were burned pretty badly by the housing downturn. Me & DH decided to purchase a vacation condo literally at the height of the bubble (May 2006) and unbegntost to us at the time, we were pushed into a Loan that was considered "Subprime". We put down 15% and were given a really decent rate (6.5% at the time) and I thought everything was pretty much honky-dory. The broker had told us we would have to refinance down the road, but I didn't quite understand that it was a "Balloon" payment that would be due in 2011. Needless to say, when the time came to pay peter, the condo had actually plummeted in value. We purchased for $286k, and comparable foreclosures in same development were selling for $65-75k. I wasn't quite sure what to do... and spent months asking for some sort of extension or refinance program from our lender... which they didn't offer. Instead... I was told we either had to accept a loan modification, or they would simply foreclose for the payment not being made in full. We wanted to be responsible and not walk away, so we accepted the loan modification. Before that... we had & still never have missed or made a single payment, never had any credit card debt, nor had we overextended ourselves buying a car we could not afford. Our Credit was in the 800's, however, the loan modification program, dropped us both into the low 700s. I now have a 714, while DH has a 709. Despite the tarnished credit scores, everything kinda has been okay up until this point. We were able to finance two new vehicle (even offered - no money down) and I was even able to open up two credit cards for the reward points & bonus, last year. However... my real problem now is our mortgage on our Primary. DH's friend was a broker at the time, and pushed us into a Option Loan. Basically, it adjusts every single month based on some sort of rate in London. For the longest while, it's been a great deal (we started out below market) and after 2009, it's stayed below 3%, and only recently has it adjusted upward in the past year. But now our rate is over 5% and I just kind of want out and into something more permeant for peace of mind. So... we approached our credit union, and submitted everything. Despite having what I would consider a perfect payment history, as well as a good income, and significant savings & retirement accounts... we were turned down. They said to us... that they do not approve mortgage applications for borrowers with previous loan modifications, or foreclosures in the past seven years. I explained over & over the circumstances, and how we were forced into the modification, and it just didn't matter at all to the Loan Officer. I was just really taken back, and surprised with it all. The house has appreciated greatly the past five years, and we barely owe 50% of it's market value according to Zillow. I've banked with the CU for over two decades, and just couldn't understand why no consideration could be made -- considering the circumstances. So... now, I'm asking for help & recommendations towards a good mortgage company. I was able to get Quicken Loans to approve us, but they came back at 5.3%, which I thought was really high, especially considering our Loan to Value. I keep seeing ads online for Amerisave, and wondered if anyone had used them, or had any review on them?? I was also thinking about just going to Wells Fargo and seeing what they come back with. And I'm sorry for ranting a bit --- I just really am sick & tired of this whole thing.