Concord Mortgage Corp (American, EMC, Bear Stearns)
Switch and bait

I refinanced with Concord mtg corp in late april with an understanding it was a 5/1 loan at 7%. When the first payment coupon arrived it was marked this is an adjustable rate mortgage, with choice of 4 options each month starting with a rate of 9.37%. My rate has been adjusted 3 times since May. After 3 weeks of trying to contact the loan originator he finally answered me telling me he had his own job & home to worry about and bottom line was he said "you signed, deal with it". I was then sold to American home mtg., then to EMC they raised my principal balance $500., and the second option was raised from 2k to 3k. I am being forced into foreclosure by this company. I am not late with my payment of option 1 that I can afford to pay but they are stripping my home of all equity.

Company: Concord Mortgage Corp (American, EMC, Bear Stearns)
Country: USA
State: New York
City: Melville
Address: concord mortgage corp

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