Just like many others that have been posting on the Internet (on answers. Yahoo.com), we were presented with phony loan documents. When promised a 5.2% 30 year fixed interest rate loan (with no income verification), we actually got documents for a 3.5% loan... Too good to be true. The actual loan was for 6.5%. This same pattern has been repeated with the other cases I have been in contact with. If you have the same experience, contact (as I and others have) the: FBI, Dept of Corporations adn Dept of Real Estate. So far, I have only heard back from the Dept of Corporations, stating they will look into it.
The other victims were not as lucky as I was, in that I rescinded the loan the next day, after calling the lender and finding out what the real loan was.
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