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preditory lender
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July 18, 2010, in Foreclosure

IN 20O6 MY HUSBAND AND I WERE SENT A LOAN PROPOSAL BY MAIL. IT LOOKED LIKE A VERY GOOD DEAL. WE SENT IN ALL OF THE PROPER PAPER WORK AND WE WERE ACCEPTED. THE LOAN WAS A CONVENTIONAL LOAN AND IT OFFERED 1.78% FOR 480 MO. AND OF COURSE WE JUMPED AT THE OFFER. THE BROKER THAT DID THE LOAN WA PREMIER MORTGAGE. WELL AT CLOSING THE MORTGAGER HAD CHANGED BUT HE SAID THAT THAT WAS WHO WOULD BE SERVING THE LOAN, WE SAW THE SAME 1.78 % AND THATS ABOUT ALL WE CARED ABOUT. WELL AFTER THE FIRST MONTH OF THE 1.78 % PAYMENT THE SECOND PAYMENT HAD JOMPED TP 7.9% AND HAD ALMOST TRIPPLED IN PAYMENT. THE PAYMENT WAS SO HIGH THAT WE WERE FORCED TO PAY THE INTEREST ONLY. AS YOU CAN IMAGINE WE WERE MAS ASHELL. i CALLED THE ORINGINAL BROKER AT PREMIER AND HE SAID HE WAS SURPRISED THAT USUALLY WE SHOULD HAVE GOTTEN A YEAR. A YEAR I SAID YOU TOLD US THE LOAN WAS FOR 480MOS. HE SAID I'M SORRY THERES NOTHING I CAN DO . WELL I HAD CANCER AND WAS READY TO KILL HIM BECAUSE I REALIZED I HAD BEEN SCAMMED. NOE TODAY OUR HOME OF 30 YRS. WILL BE SOLD ON THE AUTION BLOCK.I HAVE TRIED EVR\ERYTHING I KNOW AND I DO MEAN EVERYTHING. ARE THERE COMPANIES THAT WILL BUY MY LOAN AND GET ME IN A BETTER ONE. BY THE WAY MY HUSBAND IS NOW DISABLED AND IT IS AMAZING HOW A BUNCH OF GREEDY AND DESPICABLE MORTGAGE CO. CAN PUT FAMILYS ON THE STREET.

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