Homeowners Hurt By Mortgage Companies Ripping Them Off

country wide,pulled a good one, or bad i should say on me.when i refinanced my home.they put me on a arm rate.at the time i had no idea what that meant.and our rates just keep going up.is there any way to get out of this without refinanceing?thank you gary

gary moore wrote:

country wide,pulled a good one, or bad i should say on me.when i refinanced my home.they put me on a arm rate.at the time i had no idea what that meant.and our rates just keep going up.is there any way to get out of this without refinanceing?thank you gary

Gary, you should never ever sign a contract without knowing what you are signing.

Yes you will have to refinance to get out of it, but with interest rates down you will save a lot of money if you have good credit.

I agree with Jason, gary. You really should have asked for an explanation of any terms you didn't understand, and refused to sign if they couldn't explain.

Refinancing will be your only alternative it appears to me. Sorry, again, Jason is right, you should never sign any sort of contract without knowing what you are agreeing to.

These loan co. deserve what they get. They had a get rich plan, and to hell with who got hurt. It was for them to make their high interest. The laon co. didn't care who they screwed, it didn't take very long and a bump in the interest rates for homeowners to realize they couldn't afford the payment. Now, who's to blame? BOTH, because now the whole country has been hurt because of the mess that this has caused. GREED on both parts.

jmf wrote:

These loan co. deserve what they get. They had a get rich plan, and to hell with who got hurt. It was for them to make their high interest. The laon co. didn't care who they screwed, it didn't take very long and a bump in the interest rates for homeowners to realize they couldn't afford the payment. Now, who's to blame? BOTH, because now the whole country has been hurt because of the mess that this has caused. GREED on both parts.

Yes there is plenty of blame to go around for all of it.
Its funny because I refinanced a few years ago. I only did it because I think I was going down like 2 points in interest in the rate.

I had to about hit the guy with a stick trying to explain to him that I did not want any additional money.

They push the stuff on people and the methods they use to do it are crooked. No doubt about it.
But...
Damn if you dont know what your reading you ask. I dont mean ask the person that is writing your mortgage either.
People believe that these mortgage brokers have the customers best interest at heart.
Why would they. They make money signing people up.

Alot of them need to be in jail.

You should see it here. It is unreal.

Oh and yeah. Get out of that ARM ASAP. People with these mortgages are the next wave of foreclosures you are going to see within the next few months.

We have not sniffed the bottom of the crisis yet my friends.

This goes for the loan co. and all of the credit card co. Pushing more and more. Most people will give in thinking that they will still be able to pay, but the payments go up and up and then you can't make the payments. I don't think we as a nation are the best about paying bills. I do better now, as I got older, but when I was younger I would put off paying a bill this week, I would pay next week, by then something else would come up. One payment gets behind and alot of people will never get caught back up.

jmf wrote:

This goes for the loan co. and all of the credit card co. Pushing more and more. I would put off paying a bill this week, I would pay next week, by then something else would come up. One payment gets behind and alot of people will never get caught back up.

Yes, this is exactly what has happened. It has snowballed into a "crisis" credit cards, how many people bought a house, then used their credit cards to buy furniture ? This is a big mess that won't go away until people stop using credit cards, and how long will that take ?

NEVER, or till interest is so high that they can't make the payment, or lose a job, can't make house payment, so they don't need all the furniture, or whatever!!! The loan co & credit card co. and evensome people deserve what they get, but we all will suffer for these mistkes!!!

you can get a loan modifation that can put you in a fixed rate and there maybe possible violations on the loan where you can get all your payments back plus closing cost you contact www.lodexcreditsolutions.com
and tell them about your situation