Prepayment Penalty Texas

What is the name of your state? What is the name of your state? What is the name of your state? TEXAS

When we bought our house in 2000, we were told that after 2 years we could refinance with no penalty. Now that we're trying to do so, we've just found out that they lied to us and it's really 3 years. Is there anything we can do? I know it's our fault for not reading the fine print, but we trusted them and now we are stuck with this penalty. Do we have any recourse whatsoever?

Thank you very much,

Melissa

[HomeGuru]

Originally posted by mfarne
What is the name of your state? What is the name of your state? What is the name of your state? TEXAS

When we bought our house in 2000, we were told that after 2 years we could refinance with no penalty. Now that we're trying to do so, we've just found out that they lied to us and it's really 3 years. Is there anything we can do? I know it's our fault for not reading the fine print, but we trusted them and now we are stuck with this penalty. Do we have any recourse whatsoever?

Thank you very much,

Melissa

**A: slim and none. Before you signed the mortgage, note and various other documents at closing, you should have asked "where is the prepay clause that states 2 years".