I got a mortgage loan today, and guess what they told me at closing? - 11/01/10 09:00 AM
As I signed the papers on my home purchase today, the closer explained some interesting facts about my loan to me.
#1. If I default, I should not fret, as I should be able to live there for about 18 months, rent free, before they kick me out.
#2. If it turns out that we have misplaced a piece of paper, or if a signature is not quite right, even though I have missed 8-10 payments, I may in fact get to keep the house free and clear, all because of a paperwork snafu.
#3. I am free to read the … (0 comments)