Reply #46: Sure, they'll suck you into one of their ARMs, 30 days after you sign they will [View All]

[whistle]

..sell that paper to some speculative hedge fund group who will then pull out all sorts of creative ways to get you to begin this borrower's roller coaster ride, i.e. send you a letter stating after a review of your credit score, they have found you below their acceptable lower limit and thus will jack up the interest rate. You will not be able to pay off the mortgage without a substantial penalty, and thus they will have you in their grip and you will be subject to whatever they wish for you to pay until the end of the mortgage term. Consumer homeowner is screwed!!!! Go there anyway and see what the contract says. I'll bet you find that wording in there. That's the swindle and Greenspan and the republicans in Congress made that possible, and the cowards in Congress who call themselves democrats, let that happen on purpose.

This is why Congress must put in place the Homeowners and Chartered Bank Mortgage Foreclosure Protection Act at the Federal level across all states. Such resolutions have been introduced in some 12 to 15 states in the last 45 days and word must be spread across all states to get this legislation passed as soon as it can be.