Posted on: 20th Dec, 2010 10:54 am
When inquiring for refinancing my mortgage, Loan Officer took upon himself to order appraisal of my house, although I did not sign any loan application papers. He did inform me over the phone that he was ordering the appraisal and I agreed. The house price came back too low and thus I did not go ahead with the loan application. The bank charged me the appraisal. Can I claim refund of this fee. Again, no loan application papers were signed by me and importatnly no signed form to authorize the appraisal.
why wouldn't the bank find out what the investment is worth before the charge the consumer?? I mean the bank makes out big time...so why do they make you pay appraisal and application fees that are not refunded if the deal falls through? They have the knowledge and expertise...not the consumer. Not to mention the hard credit checks, missed opportunities of lowest interest rates, and cash being tied up, that hurts the average family. I mean come on.. They will take money from us anyway they can. What percentage of re-fi's actually go through these days? How many appraisals come in just low enough that it would wipe out the average family savings to go through with it? How many people lose the app fee and appraisal fee?? Crooked evil scum bags.. just be honest...Find out what it's worth then move forward.. We will pa the interest and you will make money. Nope not good enough...they want more...bail outs ...more more more...
They deserve to be burned at the stake. Instead we pay back Qe3
They deserve to be burned at the stake. Instead we pay back Qe3
I applied for a refi with a national federal credit union this month. the loan officer and his supervisor and another supervisor bugged me about paying the appraisal fee upfront before I got anything in writing even a loan summary. The request for me to pay them the $450 appraisal fee went on ffor days, by email and on the phone. The supervisor even yelled at me about it. It really offended me the way he yelled and treated me. Finally a week later, the gfe arrived in the mail. I am very upset about the way I was treated. I complained tothe appropriate agency. But am not going to pay them any thing now. I can not believe the way I was treated and feel that they owe me an apology and need more training. I am certain this is commonplace at this cu to do this. But I think that they are in violation and should not treat customers with disrespect.
Thanks for sharing your experiences with us AJBANK and morganicaine :) ... This will help others decide whether or not they want to take help of the same bank again!!
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