Norwest Mortgage - Wells Fargo
Adjustable Rate Loan Instead of Fixed Led to Foreclosure and Bankruptcy
In 1996 I purchased a duplex in Anchorage, Alaska through a local mortgage company called City Mortgage for $208,000.00. I was to receive a fixed rate FHA mortgage at 6.75% APR. The transaction was supposed to close in December 1 of 1995, but it didn't actually close until January 3,1996. Because ...