Reply #5: in my case it was bait and switch-application shows fixed rate-at title co papers said ARM [View All]

[fed-up]

also mortgage broker tried to get me to take out more than I needed to pay off CC debt
I was terrified I couldn't get another loan so I signed anyway, yes, foolish on my part

also NO documentation of my income was needed-

luckily I sold my home when it reset at end of 2006 and bought down, I am one of the lucky ones that listened to the posters on DU saying - Get out of debt

I was panicking and struggling to make those few 50% higher payments when it reset

also loan ap shows that payment would remain same on reset-huge lie

what I should have done was file for bankrupcty when I couldn't pay off cc's

but I knew I had run up the bills when sick and was trying to be a "good person"

now I am stuck in a non-disclosed to me former meth lab with no funds for a lawyer to rescind the contract :(