Changes to documents

[oscarbutler]

We closed on our house 6/6/2006. Just got a letter 12/6/2006 stating we had to resign some papers. I am concerned we might get taken advantage of. Originaly we had an APR listed at 7.359 and it stated at the change date that new interest would be calculated by adding zero to the current index. NOTE: The word zero is printed on the page. Now the new sheet says the APR is 10.217% Initial payments stay the same for 2 yrs then adjust higher after that. Also states that new interest to adjust by 5.375. This totally changes total payment over life of loan. The note state that it is the INTENDED agreement and thats why we have to resign this form.

We are planning to refinance but I don't want to put myself in a spot if we can't before the 2 years are up. Can i not sign and say that this is what our contract is and we are not changing it? Can they make me sign this? It seems like the bank made a mistake and are now trying to cover before it is too late

 

[seniorjudge]

Without seeing all the documents, no one can answer your questions.

However, make the lender show you in writing where the mistake was made.

If you do not understand the new stuff, then do not sign it until it is clearly written and you know what you are signing.

 

[skidoddle]

This is what I am finding out about COE close of escrow and
documents

When you sign them that is it

DO NOT SIGN ANYTHING AFTER COE

The lender wanting you to resign anything is not binding in
my opinion for it is OUT OF ESCROW

DO NOT SIGN A THING

Insist everyone abides by the ORIGINAL and might I also add
FINAL doucments signed at ESCROW

Also get your HUD 1 DOCUMENT which should have this here
ie the loan ect

AND IT HAS TO BE THERE PERIOD if it is not mistake time and
they have a BIG PROBLEM

It should have the amount and all that stuff go look at it!!!

SKI