GerryinReno
New Member
Hi all!
New to this forum!
We are in a mess. After refinancing our loan in 2006 and signing our loan docs in our house, not in an office, it would appear we are in trouble.
Our loan clearly states a 30-year adjustable maturing in 2036; unfortunately, the balloon rider at the end, which readjusts in 2008, with adjustments every 6 months thereafter, has been altered. The rider says 50 years amortization with all unpaid interest and principal due at majurity. We have a conflict here! Not to mention a huge interest penalty if we refinance or sell our home. We never saw this small alteration to 50 years that has obviously been whited-out and changed.
Do we have legal recourse? I would think so given the loan says 30 years and the rider has been secretly changed to 50.
I'm unable to past two small pdf's as the forum quota has apparently been exceeded.
I hope someone can lead us in the right direction.
Btw, the loan officer has vanished!
New to this forum!
We are in a mess. After refinancing our loan in 2006 and signing our loan docs in our house, not in an office, it would appear we are in trouble.
Our loan clearly states a 30-year adjustable maturing in 2036; unfortunately, the balloon rider at the end, which readjusts in 2008, with adjustments every 6 months thereafter, has been altered. The rider says 50 years amortization with all unpaid interest and principal due at majurity. We have a conflict here! Not to mention a huge interest penalty if we refinance or sell our home. We never saw this small alteration to 50 years that has obviously been whited-out and changed.
Do we have legal recourse? I would think so given the loan says 30 years and the rider has been secretly changed to 50.
I'm unable to past two small pdf's as the forum quota has apparently been exceeded.
I hope someone can lead us in the right direction.
Btw, the loan officer has vanished!
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