Mortgage Companies and questionable events

txsellerJune 23, 2006

How many have applied for either refinancing or new mortgage and locked in at a good rate and suddenly there is a problem? This happened to us when we refinaced We locked in and during this time the rates increased. We received an unexpected low appraisal. The same thing happened with another person I know. It seems to happen when you lock into a low rate and the rates go up during the locked in period. Please let me know.

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jannie

When we applied for our mortgage 25 years ago, the company (stress this was a mortgage company, not a regular savings bank)was pulling this same stuff on us. We had a rate locked to a certain date, and they dragged it out , asking for more and more stuff from us, like old tax returns, termite inspections on the house, anything to delay it. We sent a cc letter to them and to our state's attorney general, and finally got a decent rate offer. But it was still a little higher than the original rate we had signed for. I can't believe companies are pulling this same old *carp* 25 years later!!!

    Bookmark   June 24, 2006 at 3:38AM
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txseller

I'm surprised there hasn't been an investigation on this! I'm sure this has happened to more people. Maybe they don't realize this occurance?

    Bookmark   June 24, 2006 at 5:58PM
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