shrimspter
Junior Member
What is the name of your state (only U.S. law)? FLorida
I have a HELOC with an adjustable rate that origianlly had the option to turn it to a fixed rate. There was a stipulation in the contract that was not disclosed to me verbally that I would not be able to get a fixed rate if I lost the equity in my house. Since the market crashed, my equity dropped and i have not been able to get a fixed rate. Seems i'm being punished for the market instead of failure to pay. With interests rate potentially rising I am concerned that my payments will also. Is there any legal recourse in this matter?
I have a HELOC with an adjustable rate that origianlly had the option to turn it to a fixed rate. There was a stipulation in the contract that was not disclosed to me verbally that I would not be able to get a fixed rate if I lost the equity in my house. Since the market crashed, my equity dropped and i have not been able to get a fixed rate. Seems i'm being punished for the market instead of failure to pay. With interests rate potentially rising I am concerned that my payments will also. Is there any legal recourse in this matter?