Oct
28
Futbol4Ever asked:
I have a close friend that got scammed by a morgage lender and my friend didn’t even know that his loan was going to be a variable rate. They gave him no copies of the docs, and not only that, they lied about his income to qualify him.
I feel so bad for my friend and I wish I can help him somehow.
The only doc he did see was one that said the loan amount and it had the interest rate on it, but it was dated three days prior to when he signed it, and they told him that it was because if he didn’t sign it that he couldn’t get that rate. But it also never said that the rate was adjustable.
I have a close friend that got scammed by a morgage lender and my friend didn’t even know that his loan was going to be a variable rate. They gave him no copies of the docs, and not only that, they lied about his income to qualify him.
I feel so bad for my friend and I wish I can help him somehow.
The only doc he did see was one that said the loan amount and it had the interest rate on it, but it was dated three days prior to when he signed it, and they told him that it was because if he didn’t sign it that he couldn’t get that rate. But it also never said that the rate was adjustable.
He is very desperate and bummed out. It’s been three weeks, and he just told me this last night.
Please give me some tips. This is for California.
Thanks in advance.
THEODORE