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 Posted: Wed Nov 07, 2007 9:31 am Subject: How can I end my relationship with a predatory lender. |
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I refinanced my house in October 06 and discovered six months later that it was a 50 year loan with a 30 year balloon note with escalating interest rate beginning next October. In trying to refinance now I'm learning that I'm upside down in my house
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dlehman915
Joined: 07 Nov 2007
Posts: 1
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| Posted: Wed Nov 07, 2007 10:02 am Subject: |
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Oh my goodness! I'm not an expert by any means in this area, (or any other for that matter!!  ) but I wanted to let you know that someone was here. Please sit tight and someone will be along shortly who can give you some solid advice.
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eleroo
Joined: 06 Jun 2007
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| Posted: Wed Nov 07, 2007 10:46 am Subject: |
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If you don't mind telling us, who is the lender. There may be a history connected with them that could lead you to others who have been caught up and escaped. They may have violated the truth in lending laws also.
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frogpatch
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| Posted: Wed Nov 07, 2007 11:46 am Subject: |
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Ownit Mortgage SOlutions, Inc., Alpharetta GA 30022
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| Posted: Wed Nov 07, 2007 11:53 am Subject: |
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Did u cash out when u refinanced? And WOW, 50 year note huh? I've heard they are going 40 now but never heard of 50. Then again, i guess if it's a balloon note it's not actually 50 it's 30!
Ok sorry to ramble,
Ang
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Ang
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| Posted: Wed Nov 07, 2007 1:31 pm Subject: @dlehman915 |
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Ad removed per Forum rules - Goudah
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Shayne.Roy
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| Posted: Wed Nov 07, 2007 3:46 pm Subject: |
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$21000 cash out which we didn't request. They said we had to take it for this deal to complete
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| Posted: Wed Nov 07, 2007 3:51 pm Subject: |
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Gosh wish i could be of more help to ya! have u posted this on the mortage forum? If not, plz go here http://www.mortgagefit.com/discuss/ and post there!
Good luck and keep us posted plz,
Ang
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Ang
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| Posted: Wed Nov 07, 2007 8:36 pm Subject: |
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21000 cash out which I didn't request but they said we had to take to complete the deal.
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| Posted: Wed Nov 07, 2007 9:24 pm Subject: |
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Plz go to the mortage forum and post ur question there! Hopefully someone with more knowledge will be able to give u some advice on where to go from here!
I'm sorry this happened to u. 
Keep us updated,
Ang
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You will not be punished FOR your anger; you will be punished BY your anger. --Buddah
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Ang
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