how do I get out of a negative amortization loan ?

lisascherzer · Joined: 04 Jan 2008 Posts: 599 69.58 Dollars($)

It is unfortunate that so may people have been mislead with this type of mortgage loan known as the option arm. Definately reporting him is the first step. Loan officers of this nature will continue to lie until there are consquences. Too many people dont bother taking action. You may be able to file a suit to come to some type of resolution but that would be long and drawn out process. At the least, report them to every governing agency. I will come back and post a list of them for you.

jfa2 · Joined: 18 Jan 2008 Posts: 1 1.57 Dollars($)

I think you have to hire a person who already knows about how to file the deed in leui or try to reduce your interes.
I just talked with someone. I am a realtor looking for solutions for my customers. After few months; I think I found the righ person.
He e-mail address:
"hugo@411loansource.com"
561 843 5626 (Hugo)
Just tell him that Jackye send you.
He has several options.

Jackye

[Deactivated email address as per forum rules. Thanks.]

lisascherzer · Joined: 04 Jan 2008 Posts: 599 69.58 Dollars($)

mtntrvlr108,

Weather you sue or not, I would strongly suggest making complaints against this broker that has lied to you. These people are licensed and are only licensed because they are supposed to be acting ethically. The state of california that issues these licenses needs to be aware of those that are acting unethically and will persue them. I know that some states will even help you get a settlement or resolve your issue. At the least, this person will be punished by thier wrong doings by the state of California but ONLY if you inform them of this. If all the people in your shoes did this, there wouldn't be so many liars out there. Remember that they just didnt do this to you, this is their way of doing business. Please do your part and notify the state of California's real estate licensing department to help insure this doesnt happen to someone else.

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