Posted on: 21st Mar, 2009 12:48 pm
My mortgage is a mess. I closed this about 2 weeks ago. During 3 day right to recision asked about why appraisal difference. Was told this was a typo and being corrected. Have one doc at 275k and another at 263k - FHA went with 263k. This has not been changed. My closing settlement and my good faith do not match. Good faith shows 1% loan orig but settlement statement shows 1% loan orig and 1/2% loan discount. NO LOAN DISCONT ON GOOD FAITH EST. Furthermore, I have a letter from the company stating that I should have not been charged the 1% loan orig in the first place as I was verbally quoted 1 thing and given something else to sign.
To make a long story short, They paid off my car, and my previous mortgage and I still have not received the 2500.00.
Any ideas on help would be greatly appreciated.
Thanks,
Jim
To make a long story short, They paid off my car, and my previous mortgage and I still have not received the 2500.00.
Any ideas on help would be greatly appreciated.
Thanks,
Jim
Hi
A good faith estimate gives you as approximate idea of what your closing costs would be. However, in most cases it found that the estimate and the actual closing costs are quite different. Ideally, the lender should have mentioned clearly all those points that they would be charging at closing and if they didn't mention about the discount points, they shouldn't have charged that. As you have signed the documents, there little that can be done now. But I think you can talk with the lender and try and work out a solution.
A good faith estimate gives you as approximate idea of what your closing costs would be. However, in most cases it found that the estimate and the actual closing costs are quite different. Ideally, the lender should have mentioned clearly all those points that they would be charging at closing and if they didn't mention about the discount points, they shouldn't have charged that. As you have signed the documents, there little that can be done now. But I think you can talk with the lender and try and work out a solution.
were your represented by an attorney at your closing? if so, counsel with that individual and attempt to get this resolved. i don't think you're going to be as successful on your own as you would with counsel. you can also check with the state banking commission or the attorney general's office in your state to seek some sort of resolution.
was this a bank or a mortgage company? you need to find the appropriate channels to seek restitution. check your documents, also, to see what the agency is that governs this company.
was this a bank or a mortgage company? you need to find the appropriate channels to seek restitution. check your documents, also, to see what the agency is that governs this company.
