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Can my lender foreclose on my primary residence. I found out we got a high interest mortgage commercial loan without knowledge

by Maribelle Robinson from Jackson, New Jersey. May 7th 2017 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

Its highly unlikely you received a mortgage without knowledge. There are literally 100 pages of disclosures that you sign when you obtain a mortgage.. it's more likely you didn't read all your paperwork before signing than your loan not being properly disclosed.. This all being said, regardless, if you don't make the payments, the lender has the right to foreclose.. if the rate or terms were not desirable, you could always refinance into a lower rate mortgage.. but to qualify, you would need to have acceptable credit as well as meet all other eligibility requirements.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

May 7th 2017
Larry Gray (lgray_312_247)
#595 ranked lender in California - 1,139 contributions

If you have already been sent notice of default and you are certain it is from a legitimate lender you signed loan documents with and obtained a mortgage loan from, notify them right away and find out what they require of you to get right with them. Ultimately, you may need to seek legal counsel. If this notice is coming from someone you never signed papers with nor obtained a loan from then they likely are trying to defraud you and you should report it.

May 9th 2017
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