Thursday, July 17, 2008

fine print.

Ok. One blog to vent. Banks stink. Loans stink. Fine print stinks.
Glad I could get that one of my chest. Apparently, although it doesn't say it on the deed or the loan note, I must reside in my condo for the duration of my 30-year mortgage. I of course did not see that small detail, nor was it told to me when I signed the mountain of paperwork 3 years ago. Now, I'm married and living in Patrick's house. We rent my condo to some fabulous people. I, trying to play by the rules, sent the lender a letter with my new name and address. In return, I got a letter stating that I had 3 options: move back in to the condo, sell it (and pay a penalty), or refinance (and pay a penalty). As if you could sell anything in this economy.
Banks stink. Loans stink. Fine print stinks. We'll see how this one plays out.

1 comment:

the ginabean said...

BOO! That's the most ridiculous things I've ever heard! I hate them for you, just so ya know...