Mortgage Forum

Joel Fraser

Hi. I am hoping I can get some advice, but have no idea where to start or who to ask! I am in AZ and my primary residence is a condo in Scottsdale. I thought I had a home equity line of credit (Wells Fargo) (as a second mortgage) where I could lock in amounts borrowed a few times in the future; I was told this originally. Then I purchased a 2nd home (M&I Bank) when my condo was in escrow. Nov 07, the condo feel out of escrow the same day as close of escrow on the second home. I am self supporting and don't have any other income other than one fulltime job. I lost that in April. M&I failed to put the monthly HOA fee in my monthly expenses--so that is how I "qualified"--and it is $435 per month (I have to get that problem fixed, too; all condos here pay the same fee, even ones that ate 4 times larger than my 1 bdrm!!) M&I also should not have allowed me to buy it prior to the close of my condo because that is how I was going to buy the 2nd home. They also made me put another $15k in it that the seller gave after close of escrow!! I put down $30k from the credit line that I thought I could lock in when the prime rate became lower; then Wells Fargo let me know they outright lied to me and I can't lock it in! The total is $59,000 I have to get locked in or I will lose both properties and be without a home! This is why I call myself slootrainwreck here!! There is even more to this story. I am so overwhelmed and I have no clue as to where to turn. I cannot give them one more payment on it and am sending a letter w/in the next 2 days to notify them; and partial payments won't work. I am on unemployment and cannot pay the rest of the monthly bills. At this point probably the most important thing to do is to get Wells Fargo to lock in all or part of what I owe them, otherwise I will still lose everything.Can anyone help me with any of this? :confused: Thanks for your concern!!