C
CJMBluehouse
Guest
Ok, I have several questions that I am going to try to combine in one message. First: We live in Pennsylvania and last June(2001)we applied for a mortgage. We told the loan officer we were putting down 26% as a downpayment to avoid PMI and have the option of paying property taxes ourselves. Since one of us was in college-we were living on one income. The loan officer said to go with an FHA loan because they had the lowest interest rate. She never gave us a comparison to a conventional loan. Throughout the whole process-she continually told us any PMI shown in the estimates would "come off at closing" Day of closing: we still do not know what closing costs are going to be. One hour prior-phone rings and we are informed that we have to pay PMI plus a premium and set up escrow accounts. Because the bank dragged out the whole loan process nearly 6 months(we closed in November)the seller was threatening legal recourse because he thought we were purposely delaying the process. I have contacted FHA, the FTC and the Comptroller of the Currency. Nobody has responded. What are the Statute of Limitations for something like this? Can a bank lie to your face and verbally say "this will come off at closing" and then say "oh, sorry, you have to have PMI" ?? I called an attorney-they said they did not want to take this on, they said "three days after closing you will have forgotten about the whole thing" On top of all this-in some of the remodeling we have begun-we found plumbing not done correctly on a bathroom that was added back in the 60's or early 70's. I assume there is nothing we can do about this. Also, one month after closing-we had 600.00 in furnace repair bills. And when I received our first water bill-the water company is claiming we used 81,000 gallons of water in one week-and in this particular week-we had not moved in-the seller was still getting his mothers things out of the house but he had already removed her name from the utilties. The water company came and checked the meter and did not find any problems. I called the PUC and to date they are still investigating. Is it possible the previous owners did not pay the water bills in full and the company is trying to transfer that balance to us? On average-we only use 7000 gallons of water per month. Do we have any recourse in any of this? Or have we been royally given the shaft by everyone involved?