Mortgage Rates and POA

[Joseph S.]

We recently elected to put a 15yr mortgage on a duplex we are buying for our first rental property, and have decided to change it to a 30yr. When electing to change, is it common to keep the rates that you had when you locked in at the 15yr rate? Or does the lender normally apply the rate on the date that you made the change?

Also, I will not be able to attend the closing due to an unforseen conflict. Is it possible to create a special power of attorney for my wife to sign for me at closing on a Fannie Mae/ Freddie Mac investment loan?