Lopi,
I was in your same situation. My loan officer told me not to worry about the prepayment penalty because my interest rate was only 1%. Stupid him- that was a payment rate, stupid me, I believed him! I was stuck, so I paid it and moved on. I'm really sorry it happened to you, but I think a...
First post here, and I'm very new to anything having to do with legal issues.
Last year, my wife and I did a refinance that went terribly wrong. We had an incompetent loan agent who got us stuck in an option ARM loan with a $25,000 origination fee and a $18,000 prepayment penalty. We did sign...