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Posted by Candy Arreche on June 25, 2009 at 10:18:50:
I have 4 mortgages. When I got sick we fell behind o 3 of them.The same Bank Has all 4 mortages:
1- the secong mortage was for construction on the first mortgage hose which is not in foreclosure.The bank is foreclosing the second, but never fished giving the construction money. In this mortgage the bank never gave us the 3 days to rescind papers. The loan was made August 2005. They filed suit before the 3 years were up. the APR disclose is 9.4295 and the correct one is 9.0926 a difference of .3369 when the tops is .1250 in difference. We do not have a copy of the mortgage note.
2-This mortgage is for a commercial property my husband inhereted with his brothers--he bought their part in the property. The lawyer for the estate did all the deal.We never signed anything no1003 papers, no truth in lending, no mortgage note, no credit scores, no appraisal, no required documents were done, the only thing they gave us was the copy of the Purchase Deed and the Deed Mortgage. No other document was given to us. We were under the understanding thet the loan was for 30 days and it turns out that when we read the mortgage deed it has a balloon payment for the principal on the 7th year. we never were told this nor did they read us the deed at the closing. Also, the suit in the foreclosure does not mention it is a 7 year balloon.
3-This mortgage is on a second home we own on our block. They did not give us various documents like 1003, the 3 day letter and I think closing costs should be looked at very much because the originating Mortgage Bank, Beneficial, was closed down by the authorities due to malpractice of thing like undue closing costa.
Please advice how we can get these foreclosures resolved legally and what does the institution liable for, like for ezample with the 3 day letter if you are not given it you can rescind the loan
