I recently refinanced my home and obtained a second mortgage that was to adjust with the national index posted in The Wall St Journal on the first day of each month> I was told this index hasnt changed in 12-24 months however my rate went from 8% to 12% in just the last three months. Can someone explain how I can check to be sure my lender isn't giving me the shaft and if they are-- how do I challenge this?Is there an agency I can bring my note to and have them review it? In 6 months the lender says my rate can go as high as 15%- help!!
2007-04-30 16:03:31 · 3 answers · asked by music2discover 1 in Business & Finance ➔ Renting & Real Estate
It appears they put the ARM (adjustable rate mortgage) on you and you should consider selling the house asap and try again with the help of a real estate lawyer that you hired before you sign anything.
2007-04-30 16:32:14 · answer #1 · answered by Bullfrog21 6 · 0⤊ 0⤋
You need to see a real estate lawyer.
Best wishes and good luck.
2007-04-30 16:11:19 · answer #2 · answered by Doctor J 7 · 0⤊ 0⤋
get a lawyer....a realestate lawyer...
2007-04-30 16:07:29 · answer #3 · answered by Chrys 7 · 0⤊ 0⤋