I am writing because I am currently about to be foreclosed upon because I am unable to sell a home I purchased in XX/XX/XXXX. I am unable to sell the home because of a fraudulent note provided by XXXX XXXX XXXX XXXX and a 10 year interest only loan I was given by Bank of America as a result. Here are the circumstances that led to my signing the note : On XX/XX/XXXX when I signed my contract to purchase my home from XXXX XXXX, the contract had a cost estimate evaluation for a XXXX Interest Only ARM ( see enclosure ). After the contract was signed, XXXX XXXX Mortgage company was unable to procure this ARM and offered me a sub-prime loan which I refused. After I found my own financing, XXXX produced a HUD 1 statement with a 30 year fixed mortgage at a 6.5 % interest rate. At the closing table in XXXX 2005, I read the settlement paperwork and instead of a fixed rate of 6.5 %, the interest rate was stated as prime plus 1 %. I was told by the XXXX settlement staff that the numbers were the same and it was just worded differently. I even called the XXXX mortgage agent at the table and she assured me the numbers were the same. I left the settlement table and went directly to a local Bank of America to confirm the loan I signed was the same as the XXXX HUD 1 statement. The Bank of America banker said it was not and that he would fix it. He produced a note that had the same interest rate and monthly payment as the HUD 1 and I simply was n't knowledgeable enough to notice it was a 10 year interest only loan ( see enclosure ). I did not learn it was an interest only loan until a Bank of America representative who was looking into a loan modification for me in XX/XX/XXXX wondered why my principal balance had not changed after 4 years of paying my mortgage. I never missed a single payment in 4 years until Bank of America forced me not to pay for three months in order to qualify for the loan modification. In XX/XX/XXXX, Bank of America gave me a 45 year mortgage with a 5 year ARM ( see enclosure ). I have submitted all of the paperwork I can find regarding the statements I made above. I called the XXXX Settlement Office to obtain a copy of the mortgage paperwork with the prime plus 1 % information but they said XXXX Settlement company destroys all records after 7 years. To add insult to injury, out of the XXXX homes XXXX sold on my block, the only XXXX families in the neighborhood ( I am XXXX ) are in XXXX adjacent houses. I was completely unaware that I had XXXX days to rescind the loan but it probably would n't have mattered because I was so unfamiliar with these bad mortgage products. 
Hopefully the government can look into this incident to keep it from happening to other consumers. 
