Our mortgage interest adjusted 3 times last year. Our monthly payment jumped from $1500 per month to over $1900 per month. After our Loan Modification was completed we were able to lower our monthly loan payment by $500 and also avoid foreclosure.
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We learned we were a victim of predatory lending
Our adjustable rate mortgage increased 2 times last year. Living on a fixed income, our home slid into foreclosure. Our daughter called the Home Loan Crisis center and ordered a Forensic Mortgage Analysis. The results confirmed her suspicion.