Will trying to renegotiate my mortgage rate with my bank hurt my credit score?
we have an ARM loan that is prohibitively expensive for our budget and since our appraised value is way underwater, we cannot get a refi. My original lender sold the loan and securitized it so refinancing, especially since we have a home equity line of credit that will not allow itself to be subordinated to another lender that refis the first mortgage only. I really want to tell the lender of our first mortgage that we’re between a rock and a hard place and that if they dont play ball, we’re going to walk away from the house. am i guaranteed to have a huge black mark on my credit score for just threatening this, or do i have to actually walk away from the house to have such a thing happen. thanks!