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Old 08-26-2008, 01:36 PM
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Default what should I do about the mess the mortgage broker...

...put me in? When I was buying my house, the mortgage people said that it was worth 176,000. I found out when I tried to sell it that was worth 76,000. Now I am about to face a foreclosure and I really do not know what to do. The mortgage company has disappeared. What do I need to do right now? I just received a letter of foreclosure.Thanks guys. I just did not pay enough attention when I signed the papers. I thought that this group was trying to help me, when they were trying to get over on me. But they also got over on Countrywide, because there is no way that my house value went down 100,000 in 2 years. Countrywide bought my loan from the scammers. So I guess they did not pay attention either. We both got screwed, huh?HiNo I did not have a realtor and no I did not see an appraisal. I was told by the owner the value. Ok let me tell you how this happened. I saw a house that I loved. I left a note to inquire about renting. The owner called me and said if I wanted the house I could have it. He would do everything in his power to help me. He sent me to a mortgage lending company. I filled out some papers, brought in some check stubs and bank account papers, signed some papers, and moved in. I never even had to pay anything down. Yet I thought that the owner was just trying to help me because I was so nice. DAH. This is my first time buying a house so I did not know. Three months in to making payments on my house, I started hearing about the mortgage scams. I remembered saying, "I am so glad that I did not get taken by one of those people". But I did. So now my mortgage has sky rocketted. Will I be sued by Countrywide if they cannot sell the house for what I owe them? Or will this just kill my credit?
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