| Bait and Switch by Mortgage Lender?? |
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xyberspam
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 20 Apr 2005
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| Bait and Switch by Mortgage Lender?? |
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I recently closed on my house in Texas. During the closing process, the lender switched from a fixed loan to an ARM and also started an escrow account for me. The only reason that I signed the loan was that the seller was having serious doubts about selling (he didn't realize he would have to pay the broker and the house flooded 3 days before closing meaning he had to drop $10k in repairs). Anyway, I'm just wondering if I have any legal action that I can take. Any help would be greatly appreciated.
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Wed Apr 20, 2005 9:16 pm |
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lowbrow
Contributing Member
Cash: $ 5.25
Posts: 25
Joined: 08 Feb 2005
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When I closed recently my lender also snuck something in at the end that I had specifically asked her not to do. On an 80-15-5, I told her I wanted the second loan amoratized over 30 years, not 15 years or a 30 with the 15 balloon. Sure enough I got the 30 year with the 15 balloon. I signed anyways since I plan on paying that loan off even quicker actually but I don't like the force of hand.
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Thu Apr 21, 2005 8:56 pm |
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