I am looking for a lawyer. We were financed with a prior mortgage company @ 7.9%. My husband talked with Ameriquet loan officer and was advsised we could refinance @ 8% and the payoff money with interest only for 3 months. Upon closing date, the interest rates were increased to over 9%. It still sounded good to my husband, so we went for it.
After the 3 months period, the loan officer had resigned and no one could assist us. They gave us several numbers to to call and no one called back afte they heard the complaint. We were then advised by Ameriquest the interest only loan is for 5 years. So, we are stuck with interest only for 5 years @ $1564 month.
We received the appraisal after closing and found out that our house was appraised at larger square footage and much higher price. So, we are stuck with a loan on the house and the house is not worth it.
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