[cooper998]

Hello out there,

I am trying to be pro-active and prepare for a problem that I know is coming.

Here are the details of my situation, and I thought I was going into this with my eyes wide open...major bummer.

Anyway, I went to a local highly advertised mortgage broker to see about refinancing my second mortgage and consolidate some debt.

I signed contracts with the broker that stated that once they delivered a mortgage commitment to me their job was done, they were only acting as an independent contractor.

If I did not accept the mortgage commitment for any reason I was still liable for their fee and expenses. Looking back I think that should have been my red flag.

Well, on the day of the signing (May 15th) the mortgage documents were sent to my house, which meant I had plenty of time to read them.

These people are out of their minds! Among other things the conditions required I waive my right to a jury trial if any legal actions are taken by either party...say what!

After reading the documents there was just no way I could sign them, especially the part about waiving a jury trial.

so, i called the loan officer and left him a voice mail telling him i had a problem with the document and i wasn't going to sign them.

about 20 minutes later i received a call back from a guy named ken who told me he was my loan officer's supervisor and trainer and he wanted to know what the problem was.

after i pointed out the conditions i disagreed with due to personal beliefs and convictions he went into what i immediately recognize as the hard sell to close the deal. in fact i told this to him twice.

he told me the documents i had were standard documents and is what everyone is signing, even he himself.

at one point he told me he was going to call the mortgage company and ask about the waiver of a trial by jury.

when he called back about 20 minutes later he didn't mention anything about the jury waiver condition, he straight-up told me that i had already signed the document because when i refinanced my first mortgage i signed on to the same conditions.

so therefore it was illogical that i wouldn't sign them again.

anyway, i think you get the point, he was trying his best to get me to sign and i said no, not under those conditions.

so, now i am expecting a bill from the mortgage broker for probably close to $1500.

i'm not trying to scam anyone and even though i signed a contract i feel that the mortgage broker is dishonest and was trying to pressure me into signing a document that imposes too many burdens and restraints...in short, i was about to get hosed.

i called the state attorney general and was told to file a consumer fraud complaint, etc ,etc.

i did find the following in the broker's state licensing requirements and regulations and was hoping someone could tell me if this could be my relief from the broker's contract which says he has to deliver me a bona fide mortgage commitment ...

"Inconsistent conditions prohibited: no residential mortgage loan commitment shall contain conditions inconsistent with those required by state and federal laws in effect at the time of application, unless such conditions are less onerous to the applicant."

i'm not sure how to prepare for what i know is coming and would appreciate any sound advice i can get...this blows.

thanks in advance,

cooper998