Posted on: 02nd Feb, 2009 02:26 pm
i am trying to refinance my home. the lender tells me that since they do not have a brick and mortor office in texas they cannot refinance my home because i have a home equity line of credit that i borrowed money against this line of credit and have repaid the loan. is this a fact? should the lendor have asked this question prior to my submitting a commitment fee? should i be able to get my commitment fee refunded?
Hi Stan,
If you have repaid the Heloc, then you can qualify for a refinance loan on your Texas property. And yes, the lender should have asked this question before you paid the commitment fee.
You can ask for a refund of the fees you've paid. Check out the commitment letter for terms and conditions regrding refund of commitment fee.
Take care
If you have repaid the Heloc, then you can qualify for a refinance loan on your Texas property. And yes, the lender should have asked this question before you paid the commitment fee.
You can ask for a refund of the fees you've paid. Check out the commitment letter for terms and conditions regrding refund of commitment fee.
Take care