Just want to let you know that your not alone. I don't want to ash because componies are sueing for bad talking them. I have no proof of this but i know from my exsperience. When i was a first time home buyer 2 years ago me and my husband wasn't well informed on the hole proccess, our own diligence i went throught lending tree to find a financial institution for a mortgage. I went with new york lending group. Which in turn set us up with first franklin. I went with it because we were foinf to have a 7% rate. And i asked the guy from new york mortgage if there was a prepayment catch. He assured me not to worry about it at the time there wouldn;t be on along with any points. After a long closing with the seller being out of town and what not it took a while to close so when we found out a date we made the arrangements sending 30 notice to the landlord and utilities and what not. A week before closing the guy told me because of my husbands school loans that they some how missed it would take our rate to 10.4% the day of closing was the first we heard of a prepayment rider and some kind of balloon rider. Me and my husband didn't know at the time we could just walk away. We just spent all this money and arrangements and time. So we signed the papers not knowing. Then a couple months living in the house we got a legal noticed that the taxes weren't paid from the year before. We had no idea i paid the amount of taxes for the year we bought the house till dec. At closoing. So i call them and they said they would take care of the almost 800 back taxes out of my escrow but they were going to money from the title search company because they were to notify or told us about it. They never did i never seen a dime they paid the back taxes with my escrow money and uped my escrow payment so from a 600 payment to a 700 dollar to make up the lost money in escrow.
And one more thing they did the appraisal with who ever they chose, 1 i never saw that appraisel till i just requested it because i am finally planning on refi. They only apprased the house for the exactg loan amount. Now i am having issues with refi. The house was on the market for 74500 when we looked at it we got her to go way down to 55500 and we had our closing cost financed in to make it 60420. But i still had to hace almost 2000 at closing. Its fishy now that i see this guys problem with them. I can't afford a lawyer at all, i don;t even know what any of these papers mean from the closing
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