Posted on: 09th Jul, 2009 07:15 pm
our closing is scheduled for tuesday on a mortgage refinance. we are refinancing with the same company that holds our current mortgage. we were wanting a cash-out refiance, however when we got all the forms there was no cash-out. when we asked the mortgage officer he acted as though we never requested it (which we did more than 5 times and had detailed discussion regarding the amount). he said that he would not send it back to the underwriters because we were so close to the closing. what will happen if we back out now? what fees will we be charged? if we make the company mad can they do anything to our current mortgage?
Hi jbabek!
Welcome to forums!
Your current mortgage will not get affected if you back out from the refinance deal now. However, there are chances that the lender would charge you some fees. The lender had assigned an underwriter for you and also prepared the required documentation. So, the lender may charge you fees for these.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your current mortgage will not get affected if you back out from the refinance deal now. However, there are chances that the lender would charge you some fees. The lender had assigned an underwriter for you and also prepared the required documentation. So, the lender may charge you fees for these.
Feel free to ask if you've further queries.
Sussane
jbabek
Back out if this is not what you want. Complain to a supervisor.
Back out if this is not what you want. Complain to a supervisor.
he is trying to hide his mistake as he is avoiding to go to underwriters stating that deed is closed to finalized. pressurize him by not accepting the proposal. he is also supposed to close the deed.
also just check the fees that thy will be charing to you
also just check the fees that thy will be charing to you
go to the closing and sign everything. then, during the rescission period, cancel the loan. you'll have to be reimbursed all monies you've paid and there will be no penalty whatsoever.
