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TXHomeowner · 07-11-2008, 02:44 PM

Hey Y'all!

I just heard from our attorney, Mr. Paiva (very nice guy), and GOOD NEWS - we have a couple a major violations on our first loan. Apparently our percentage rate was written almost 2% under what it actually is, which caused a variance of over $100,000. CRAZY!

We are now in a very good position to begin negotiations with Option One (AHMSI) for a loan modification. We could actually rescind the loan because of the severity of the violations if we wanted to, which we do not...but it's good to know we can. =)

I'll keep y'all posted as I find anything new out. Keep your fingers crossed for us!!

-TX

07-11-2008, 02:44 PM	#9 (permalink)
TXHomeowner Senior Member Join Date: Jun 2008 Posts: 157 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	WOOHOO - Our Forensic Audit Results Are In Hey Y'all! I just heard from our attorney, Mr. Paiva (very nice guy), and GOOD NEWS - we have a couple a major violations on our first loan. Apparently our percentage rate was written almost 2% under what it actually is, which caused a variance of over $100,000. CRAZY! We are now in a very good position to begin negotiations with Option One (AHMSI) for a loan modification. We could actually rescind the loan because of the severity of the violations if we wanted to, which we do not...but it's good to know we can. =) I'll keep y'all posted as I find anything new out. Keep your fingers crossed for us!! -TX