I just refinanced, but I went through a messed up lender. They told me that my payment was at a 4% and of couse said my payment would be low which it was but I did not realize that it was a negative am loan. I didn't even know what that was until I got my statement from the bank. They also gave me a home equity line which is all used up because they did it toward the house payment. Now I have to pay more each month than I did before and now I have to wait 3 years on the Neg am before I can sell or refi because of the pre pay penalty. Can someone please give me some advice??

I just refinanced, but I went through a messed up lender. They told me that my payment was at a 4% and of couse said my payment would be low which it was but I did not realize that it was a neg am loan. I didn't even know what that was untill I got my statement from the bank. They also gave me a home equity line which is all used up becuase they did it toward the house payment. Now I have to pay more each month than I did before and now I have to wait 3 years on the Neg am before I can sell or refi beacuse of the pre pay penalty. Can someone please give me some advice????
I hate when I run into people who have been put into situations like this, the good thing is that you may still have options.
What state do you live in and what is the best way to contact you?