after closed and recorded

What is the name of your state?
california

We have refinaned our home with cash out opt.
Dec 30th, 03- We signed the papers.
Jan 9th, 04- The house closed.
Jan 12th, 04- recieved notice from San Diego recording office.
Jan 13th, 04- recieved cash opt check and closing statement from escrow.
Jan 16th- recieved a letter from mortgage requesting to sign a new note and rider for our loan do to error on their part.
We found out that they made a mistake and put down 5% 30 year fixed instead of 5% for 5 year fix then adjustable for the next 25 years. We never caught the error but they didn't till after close.

The morgage company states that we signed papers that allow them to make changes due to clerical error. We asked to see the papers that they were talking about and they sent us:
Note
Compliance agreement
Prepayment Note Addendum
Prepayment Penalty disclosure(multi-state)
But these papers look like they are regarding issues before close.
Our lender is calling telling us that the mortgage company is going to forclose or do something mean to us if we don't sign their papers.
What is the law in California after the house has been closed and recorded?

Thanks for any help(I'm stressed)

dew6ty

[HomeGuru]

Originally posted by dew6ty
What is the name of your state?
california

**A: correct. You win the daily prize.

I posted before I was finished. I have edited the original post..

Thanks

[JETX]

The mortgage company has the right to request/demand your re-signing to correct the error.

[nextwife]

There is a standard form which is normally part of the closing package the lender provided the closer. The form is an agreement to cooperate in redoing any forms that were handled erroneously. If you entered into an agreement and were given a loan commitment for a 5 year adjustable, and there was a typo on terms, you need to cooperate and get it corrected. Odds are they can't deliver the loan to the investor because it is not in compliance, and the investor is cancelling the loan.

[HomeGuru]

So writer, so you now understand?