We all know how mortage's are bought/sold daily right? It's happened to us a few times. But our most recent mortgage holder (Homecomings financial) has our's in an adjustable rate, when we had a guarnteed fixed rate! Here is how i caught this. We were late twice during a year, few days at most each time. The next monthly statment we received i noticed a twenty dollar increase in the actual payment. Began searching the statement and saw the rate had increased by a point. I called them and they told me, 'oh, your note specifys that your rate is variable.' I said, 'uhh, no we signed a fixed rate guarntee with the money store (previous mortgage holder)'. I was informed (get this one!) that, 'when we took over the note we (meaning they) were given a notification that it was a variable rate.' I said show me prove, because i have mine! And wouldnt you know it, to date (this being three years since) we have received NOTHING, except now being at TWELVE percent! And you guessed it, two months behind, in default. Bush just signed a bailout, to place we/people like us back into FHA approved fixed rates right? Good luck getting it from homecomings, because they told me, they have no intention of doing that! We all need to go class act on this, and force them to place us into fixed rates, so we dont become HOMELESS AMERICA!!
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