I bought a commercial retail space in Febuary of this year to start a daycare center, but was unable to complete the process for lack of being able to secure funds.

now that I find myself facing foreclosure on the property , I would like to contest a huge 10% PREPAYMENT PENALTY.

I never recieved a good faith estimate before closing, only a condition to close statement with this prepayment on it, that was already outdated , when I brought this to the loan brokers attention that the statement contained the penalty , and was already outdated , I was urged to sign it anyway, and the situation would be straightened out.. it never was.

since I did not get a closing estimate either I forgot about the penalty until it resurfaced at the closing table.

the loan broker was not paid, and the finance lenders, threatened to sue me for her portion, but dropped the issue , I believe the prepayment to be preditory lending practice, is there someone that I can have review the matter ??

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