The Mortgage Nightmare People!

[Hotzcatz]

I'm not sure who my friends are using but they've had three different closing dates. Each time they go in to sign the papers they find some sort of detail snuck in there that they didn't want. There wasn't supposed to be a pre-payment penalty, the paper writers SAID there wasn't a pre-payment penalty yet when my friends went to sign and read the document, there is was - in writing - a prepayment penalty. Then next was a requirement for mortgage insurance for the entire life of the loan, not just until enough equity was in it and then there was one more small detail that would have made the mortgage company a hundred thousand dollars over the life of the loan although I forget specifically what it was. When you get a mortgage READ THE DOCUMENTS do not let them "tell" you what is in them.

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"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson