You might get some negotiating leverage.
You sound like the best paying borrower they ever found.
If you can reconcile yourself to believe this is the same scam that is pulled
on borrower after borrower. You just had more cash than many of them.
If you are curious just how much money they scammed from you.
Based on the principal and intererest of this loan, go to the internet
and find a mortization schedule or a mortgage calculator.
You plug in your dates and numbers
The schedule will tell you how much you should receive credit to principal
and interest for your payments to date.
It will also show what your balances should be.
You can plug in taxes and insurance outside these payments. Run two
copies. One to write on and one to use for court evidence.
This is a fee driven industry. They are unhappy when all you have to pay
is the agreed upon principal and interest and look for ways to charge you
fees, even resorting assessments that you do not owe and they will not
correct when pointed out.
you'll see the difference in what you see on the mortgage calculator and what they are trying to pass off as your principal and interest payments
and principal and interest balances.
Don't show them your hand. They will want to keep you paying these large
payments that you get no credit against principal and interest.
As long as you have money and are ready to hand it over, they'll take it
and put you right back into mortgage hell sometimes as little as 60 days later.
When you have no more money, that's when they will foreclose.
So do what you think is best.
If you have anymore questions after looking at the scheduled payments
you just might want to fight.
You are going to need a lawyer. I would suggest one with either choice you have.
They gave already ruined your credit, so you might want to look for lawyer
to look for violations. FCRA
[PDF]The Fair Credit Reporting Act
The complete text (as amended October 2001) of the law governing credit reporting.
http://www.ftc.gov/os/statutes/031224fcra.pdf - Similar pages
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http://www.bankrate.com/brm/mortgage-calculator.aspThere is a lot going on right now concerning bad mortgage loans. Keep
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