"and the bank came to him"
Here's a twist - Not naming the bank but just want to provide you with this info. A prominent individual, within my community, was just approached, in person may I add, about trying to get him to refinance his loans with them stating they will save him money. 3 weeks ago I talked to an acquaintance that works for a different bank and asked "Are you folks making home loans?" The answer was "By all means, yes! In fact, we don't even have any foreclosures". Small town America? Yes!!! But this gives you an idea outside the realm of big city overpriced home economic foreclosures that money is available. The aforementioned individual had not sought to refinance.
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