Posted on: 20th May, 2010 02:25 pm
Hi,
I recently applied for a mortgage loan with a lender. Everything was going fine, so I thought. They stopped returning phonecalls, and emails, and they take at least 2 days to respond. They are now telling me they cannot close on the date that the purchase contract states, which is necessary at this point. Since I have already begun this process, I hate to backout and go with another lender, whom I know can quickly close this loan, but I am almost forced to do so at this point. My question is, what is the process of withdrawing an application, and will I need to obtain an official document saying I have withdrawn my application since I am so far into the process? Also, are there fees associated with this?
I recently applied for a mortgage loan with a lender. Everything was going fine, so I thought. They stopped returning phonecalls, and emails, and they take at least 2 days to respond. They are now telling me they cannot close on the date that the purchase contract states, which is necessary at this point. Since I have already begun this process, I hate to backout and go with another lender, whom I know can quickly close this loan, but I am almost forced to do so at this point. My question is, what is the process of withdrawing an application, and will I need to obtain an official document saying I have withdrawn my application since I am so far into the process? Also, are there fees associated with this?
Hi steff!
Welcome to forums!
You will have to inform your lender that you want to withdraw the loan application. You will have to write a letter to your lender informing him about the cancellation of the deal. I don't think there are any fees associated with this. You can contact an attorney and he can help you in drafting the letter for the cancellation of the loan application.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will have to inform your lender that you want to withdraw the loan application. You will have to write a letter to your lender informing him about the cancellation of the deal. I don't think there are any fees associated with this. You can contact an attorney and he can help you in drafting the letter for the cancellation of the loan application.
Feel free to ask if you've further queries.
Sussane
They should be able to provide you with a letter of denial or withdrawal. There shouldn't be any fees associated with withdrawing your loan. If you didn't pay for an application or appraisal, then you didn't lose any money.
Pl. provided withdraw application
Thank
Thank