Tilted Forum Project Discussion Community - View Single Post - House is worth less than I owe and relocating, need advice!

Stompy · 07-09-2007, 07:44 AM

Thanks, ratbastid.

I had planned on talking to the banks, but figured I could get an idea of what to expect in the event anyone else had this same situation just because I admittedly don't know much about this stuff. I'd like to avoid the situation of banks or other loan officers getting me into situations that I don't really wanna be in just so they can profit a bit more.

In this day and age, it's increasingly difficult to find a person you can trust that will look out for you and let you know things you should or should not avoid.

That's actually part of the reason why I'm in this spot because when I had refinanced 2 years ago, it was to get out of the ARM I was in. I wanted a 30 year fixed. Lo and behold, they slipped something in and didn't notify me of the fact I was getting into yet *another* ARM. I didn't even notice until a girl I was dating, who worked for a realtor, reviewed my HUD and mentioned, "You know you have another ARM, right?"

Needless to say, I was pretty pissed off. Yeah I signed the docs and everything, but since I don't know much about this stuff, it's not hard for them to slip that in.

I think in this situation they'll try to push on me options that THEY want to sell me, not options I SHOULD be getting, if that makes sense.

07-09-2007, 07:44 AM	#3 (permalink)
Stompy Banned from being Banned Location: Donkey	Thanks, ratbastid. I had planned on talking to the banks, but figured I could get an idea of what to expect in the event anyone else had this same situation just because I admittedly don't know much about this stuff. I'd like to avoid the situation of banks or other loan officers getting me into situations that I don't really wanna be in just so they can profit a bit more. In this day and age, it's increasingly difficult to find a person you can trust that will look out for you and let you know things you should or should not avoid. That's actually part of the reason why I'm in this spot because when I had refinanced 2 years ago, it was to get out of the ARM I was in. I wanted a 30 year fixed. Lo and behold, they slipped something in and didn't notify me of the fact I was getting into yet another ARM. I didn't even notice until a girl I was dating, who worked for a realtor, reviewed my HUD and mentioned, "You know you have another ARM, right?" Needless to say, I was pretty pissed off. Yeah I signed the docs and everything, but since I don't know much about this stuff, it's not hard for them to slip that in. I think in this situation they'll try to push on me options that THEY want to sell me, not options I SHOULD be getting, if that makes sense. __________________ I love lamp. Last edited by Stompy; 07-09-2007 at 07:46 AM..