Q: I have a signed contract where the other party is trying to stick me with something I didn't agree to.
Here are the basics. I bought a house for $49,000, and put $10K down in cash, financing the remaining $39K, directly with the seller. No bank was involved. The terms of my contract state that I'm to make equal monthly payments with 8% interest added in, until the debt is paid. No penalties for paying early. No other terms. The other party is trying to say I agreed to a 15 year fixed mortgage rate with compoundable interest, and that's not in the contract. I say I paid the house off, they say I still owe $14K because of some 15 year contract they think I agreed to.
A: If it’s not in the contract, it was never a term of the contract.
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