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I have a high intrest 7.7% loan from Countrywide originated…

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I have a high intrest...
I have a high intrest 7.7% loan from Countrywide originated in 2006. The broker stated a higher income after I showed her my tax return was 28k for 2005. They made me do a 3 yr prepay for $8,000.00. My credit score was a low 608. Does this seem to be a preditory loan??? David
Submitted: 8 years ago.Category: Real Estate Law
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Answered in 4 minutes by:
6/24/2010
Real Estate Lawyer: Ray, Lawyer replied 8 years ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,857
Experience: Texas Attorney for 30 years dealing in real estate
Verified
Thanks for your question.You may well have grounds to file such a lawsuit here based on the predatory practices.Countrywide has been sued for these type loans in many other cases.They are known to have been involved over time in many of these--you sure aren't alone.You would need to locate a local lawyer here if you want to file such a lawsuit for damages in this matter and seek recovery.Ordering your file is good first step in seeking to send demand letter and file a lawsuit.

You may want to check here--there was a settlement with Michigan here and their AG

http://activerain.com/blogsview/730958/lawsuit-settled-michigan-vs-countrywide-financial-thank-you-mike-cox

Edited by RayAnswers on 6/24/2010 at 9:12 PM EST
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