21st Mortgage / loan closing
I went to a resale/repo/refurbished lot to buy a home. 2006 clayton bought in May 2008. All payments are ACH debited 2x/month (until now), so they haven't been late (of course, I haven't checked by credit report so who knows :) Anyway, upon getting the paperwork together (state of Missouri, i live in OKLA) we went in to sign the paperwork. I was told specifically, "Your house will be paid off in 8 years by opting the ACH debit plan rather than 15 years, with a monthly payment." I am fairly cautious (although home loans is/was brand new to me), so I had her repeat this info to reassure me a couple of times. Then, we started signing the paperwork. I get to the payment page, and there are two papers. One for monthly, one for bi-monthly (or biweekly, sorry that always confuses me). Anyway she had me sign both. When we got to the 2x month payment page, I did the math in my hea and said this reflects a 15year mortgage not an 8 year. She said (and yes, I quote this), "it would take too long to reorder the paperwork, have it sent, and reschedule you to come back. Everything will be reflected correctly at their end though, and your house will be paid off in 8 years." I (like an idiot) said okay and signed. Last thing, a few pages later there is a discreet page that says no verbal agreements are subject to blah blah blah null and void, and basically, really don't matter. So that conversation, to the law, as far as I know, never happened. ANYONE ELSE IN THE SAME PREDICAMENT?? Know of anything that can be done??
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