Can anyone help? I purchased my home at age 22. I used a reputable lender. Then I was attempting to expand for a new child and refinanced. I shopped for rates and ended up using a broker who connected me with AMC. The house was getting too small and we knew we would be upgrading in couple months. I was sent a "good faith" of 7% at the signing they showed up with a 10% loan. I had already gave a 5000.00 deposit to a construction worker as I was told by the lender that my loan was just taking a little time but everything was good. I explained that we were planning on selling in a couple months and wanted to know what the prepay situation was.
I did not understand the language. I trusted these people. They stated a if we sold there would be no prepay. I could handle the payment for a little while. When I went to an agent when I was ready to sell he immidiatly told me to check out the prepay again because of the reputation of this company. I have been scammed! I was not understanding the terms and was told it was good. I have dealt with this for 3 years and have depleted every penny of retirement and it has drained me emotionally.
I have seperated from my husband and my 2 small boys are suffering from this trauma to our lives. I have now been behind on my mortgage for 2 months as I cannot afford it and have nothing left to give. I have listed my home but no one is buying. I am so embarrased at what a fool I was. I did not realize these mortgage guys are worse than the term "used car salesmen" Car salesmen do not take childrens homes and everything a woman has worked so hard for.
Please hear my story and if it stops one person from making a mistake like me I will have helped their entire livelyhood. Can anyone give me advise? I am supposedly not eligible for the class act suit due to using a broker. I have pretty much given up.
Good luck to therest of you out there in this bind.
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