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Foreclosure in Cottonwood : Real Estate Advice

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  • Home Buying15
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Activity 2
Wed Jun 1, 2016
Karen Peyton answered:
Your best bet for answers to your questions is to get in touch with an agent in the area. You can use the Agent tab at the top of the page, or get a referral from family, friends, or colleagues.

Good luck!
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Fri Jan 18, 2013
Jose Dias answered:
I am sorry that you are going through this situation with your home. Based on what you described it seems you signed an interest-only loan, which means you have to pay only the interest on the loan. The numbers though do not make sense - $130k interest for a $250k loan in 5 years seems high. I don't think you will get a satisfactory answer here on Trulia (or anywhere else in the Internet for that matter). I strongly suggest you talk with an attorney who can review the specifics of your situation, including the loan documents and contracts. There are laws against predatory and/or fraudulent lending that might apply to your case - not saying that they do.

Good luck!

Jose Dias, REALTOR | (623) 418-5700 | |
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