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Mortgage oan

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M

msrah

Guest
I am divorced, bought a new house, ran into financia probems right away, decided to get a home equity loan, no one woud give me one, finally a mortgage company did. I did not come out as well as I thought I was I was so confused and desperate at the closing I did not understand, I now have a huge mortgage payment and still have a the bills I was going to pay off, I am struggling and constantly called about the company foreclosing on me. Can Stupidity be defended? Can I get out of this mess and get a oan I can ive with?
 


D

David J. Miller

Guest
It's a long shot but if you were a victim of predatory lending practices or deceptive lending practices there might be some relief. Very long shot but if desperate enough, consult an attorney. I assume there is no more equity left in the home? If there is, consider listing the home for sale. I'm curious, you say you were not able to pay off the debt you had intended to pay off with the proceeds of the loan. Please elaborate on this more. What is the balance of the 1st mortgage? Loan amount of 2nd mortgage? Value of home? What proceeds did you expect to get and how much did you actually receive at closing? What was the interest rate of the loan? What is the term of the loan and finally what is the monthly payment amount?
 

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