Quote:
Originally Posted by Gerco
You guys living in your apartments have no clue do you... I actually WAS told that this was a fixed loan. (That's one of the things that my attorney is currently fighting... ) and they buried this whole adjustable thing in fine print some 20 pages into the contract. We had no clue that it was going to change until one day 2 years after buying we got the letter telling us the news. and raise it they have... 1.5% ever single month (which is the Max) since the 2 year anniversary of the loan.
To those of you who have never bought a house before, like myself included before this... there is a shitload of stuff they hustle you into to sign. Should I have read it better... yes. BUT I made the mistake of trusting my realitor, Huff, who was telling me that this was normal, that this was standard for all first time buyers yada yada. I even put 8k down. I make over 100k a year but I'm not about to pay for this house as it currently sits. AND Im not going to rebuy it (which I could do with the CD) No, I'm going to let them fght for the house... which will take them about 2 years, and then make them sit on the fucking thing for another year after the foreclosure is final. PLUS I'm taking every fucking thing I can out of the house. They can have the fucking shell for all I care.
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I hope you're not assuming I live in an apartment.
Now the truth comes out: You didn't read, and you listened to the jibber jabber of some lender. That is the problem: people listened to workers making commissions instead of taking the time to research the biggest purchase of their lives.
I was a first time home buyer 6 years ago..I read EVERY single page of that contract and highlighted every thing I was unsure of. I took a $20k loss on my 2nd home after fees, but hey...I learned and didn't roll over like a bitch.
The fact that you are playing dead and giving up the home when you say you have money to purchase another home, is proof that you are contributing to the problem. If you have the cash, pay the closing fees and refi the home to a locked rate. If you're not part of the solution, you're part of the problem.
