| Re: Was I a victim of predatory lending practices?
As *** indicates, refinances are very tough to get right now due to tightening of lender guidelines and disappearing equity.
This is when loan audits and loan modifications may be your solution.
The Option ARM loan is a very, very tough loan to explain to a borrower and then to disclose the amortization and terms properly. I've talked to many bank loan officers and broker loan reps that do not explain it properly because they don't understand it themselves! I have personally seen many of these loan documents that are flat out incorrect, or misleading.
That is why you may want to contact an attorney on this. |