Got tricked into a world sav pick a pay-what do i do now?

[Joel Fraser]

Back in 2005 my husband did the legwork on a refinance. The process was done mostly over the phone which should have been our first red flag. My husband is self employed and the broker suggested a quick approval where they do not verify income. I didn't even know that was possible, but it's always difficult to verify self employ. income so it sounded good. Due to the fact that my husband is self employed and some bad credit showed up, our broker told us to put the loan in my name only since my credit was good. I have steady employment and make a decent wage so we proceded. The process carried on and the broker suggested a pick-a-payment loan. Said it was great for people like us who are self employed and monthly income varies. Again, that sounded like he was really looking out for us. We agreed to the loan and a notary came to our home to get the documents signed. At this point we had not signed anything. We went through the documents pretty quickly spending most time on the truth in lending doc. The copies the notary had were pretty grainy. The application information was in the first few documents. As best as I can recall, it was just put in front of us as "just need initials/signature etc." These forms were especially grainy and even when I was reveiwing them the other night I had to look very closely & squint to read was was typed in. Again, at this point we trusted our broker, it seemed like he really worked hard for us. We signed the docs. and went on with our life. We have paid the full payment and we have paid the least payment offered. Now the variable rate is so high that we can only afford the minimum payment and a couple extra hundred dollars which doesn't even cover the interest only payment. So every month our pricipal goes up. So, in looking into what to do next, because we cannot afford this loan I was reviewing the loan dcouments and found that my income was listed as $10,000. I do not make anywhere neatr $10,000 a month. I believe at the time I made about $4250 a month. Even our combined income on the best month was never anywhere close to $10,000. Is there anything I can do to fix this? Is this considered predatory lending (http://www.predatorylendinglaw.org/)? Am I stuck because I signed the papers? Please help...I do not want to lose my families' home. :confused: