my income increased at the same time house fell in forcloser, can pay currentbut not lump sum owed too. ??????

Question

Mareners Capital refinace agent fix bad loan to defalt next yr were we came defalt in escrow account. taxes and ins. were included in loan agent cut it short so mothly paymant looks good to get sale and comition. at ower expence for making hime right 3 diferent good faith papers to get wat he promised and each one were not what was promised so we refused to sign till monthle paments were what we said. but cut half of what was to go to escrow to cover taxes and ins. legal advise helpfull and currenly looking into.but little time.

Answer 1

Daizy,
It looks to me that what you're saying is this...
... you refinanced your house and had been given a good faith estimate that at first looked ok to you. Around closing time, the payment was much higher than you expected. Probably the interest rate was higher than what the loan officer first calculated. To get the payment to a point that would "satisfy" you at the closing table, the loan officer reduced the escrow account significantly - resulting in your current shortage.

If that's it, the words you're looking for are "PREDATORY LENDING". Contact your state's agency that regulates lenders. If you're in Texas, call 1-877-276-5550 to file a complaint. The FBI is also getting after these people. Call their local office.

I'm proud of you for trying to find the solution to this problem. Don't give up.

Richard

Answer 2

I cannot tell by what you have written if you are already in foreclosure or if the procedures are just getting ready to be started.

If I were you, I would QUICKLY call some local mortgage brokers and explain your situation and see if they can help you. You can possibly refinance before you go to foreclosure.

Answer 3

So do you actually have a question? I do not see a question here. Perhaps I missed it....

Answer 4

Wow....If I had a red pen to correct all of your mistakes, I would run out of ink....WOW!