Legal Question in Real Estate Law in California

Refi, negative am., forgery on app, inflated statement of assets

Is there anyway to get out of a negative amortization other than paying the prepay penalty and doing another refi? Does a forgery of the borrower's signature on a loan application and a $50,000 inflated (false) statement of assests, post-dated from the initial ap, nullify the neg am refi? We don't have and cannot obtain a copy of the application we did sign; we cannot find it in our final docs.


Asked on 2/14/07, 5:48 pm

1 Answer from Attorneys
Lyle Johnson Bedi and Johnson Attorneys at Law

Re: Refi, negative am., forgery on app, inflated statement of assets

First you should keep in mind that submitting a false credit application is a crime. Most loans allow a partial repayment without a penalty. You should discuss the matter with a financing agent or an attorney to assist you to determine what paths are available and which one you should take.

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Answered on 3/03/07, 1:08 am


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