What is the name of your state? CT
We were served with a summons in early November, and started from that point to do everything possible to avoid foreclosure. Had a lawyer defending us, and had a mortgage broker working on finding a lender.
Fast forward to mid January. The broker we had been working with keeps making promises about when we can go to the table, but for 3 weeks or more the lender requires "one more thing". One of these things was a Broker Price Review from a realtor to confirm the value that the appraiser gave to the house. The appraiser said $375, the BPO said $379.
Once the lender finally got the BPO and reviewed it, someone 3 states away who has never even seen our house assigned it a value of $320, because there was a house on the market for 2 months with similar age, size, lot, etc. This in turn put us about $9K short on the loan we needed to get us out of our situation.
This was the last straw for my attorneys, who had been hearing 'we are closing soon' for too long. They asked if they could give my name to a broker that they work with, said broker contacted me, found a lender, and a loan at a rate 2% less than the other lender, and took the appraised value, allowing us to not only pay of the foreclosing lender, but about $10K worth of CC bills.
Once the loan funded, I called the original broker and said "Thanks; we are all set." I appreciated all the work she did (I sent her a gift certificate because I felt she really DID work hard and seemed to have a genuine interest in resolving our situaion); but in the end, trying hard just wasn't enough.
So yesterday I get an email from the title company that was working with the original lender, wondering what the status was on the refinance. I emailed back stating that we decide to go with another lender, and we were all set.
Today, I get a bill in the mail for $400 for title certification, commitment, and doc prep fees.
Is this my responsibility? I never, ever recieved a firm commitment from the lender the original broker found, and I never signed anything stating I was responsible for fees incurred by the broker.
Yes, I do have a call in to my attorney, but they aren't around right now, so I thought I'd try here.
We were served with a summons in early November, and started from that point to do everything possible to avoid foreclosure. Had a lawyer defending us, and had a mortgage broker working on finding a lender.
Fast forward to mid January. The broker we had been working with keeps making promises about when we can go to the table, but for 3 weeks or more the lender requires "one more thing". One of these things was a Broker Price Review from a realtor to confirm the value that the appraiser gave to the house. The appraiser said $375, the BPO said $379.
Once the lender finally got the BPO and reviewed it, someone 3 states away who has never even seen our house assigned it a value of $320, because there was a house on the market for 2 months with similar age, size, lot, etc. This in turn put us about $9K short on the loan we needed to get us out of our situation.
This was the last straw for my attorneys, who had been hearing 'we are closing soon' for too long. They asked if they could give my name to a broker that they work with, said broker contacted me, found a lender, and a loan at a rate 2% less than the other lender, and took the appraised value, allowing us to not only pay of the foreclosing lender, but about $10K worth of CC bills.
Once the loan funded, I called the original broker and said "Thanks; we are all set." I appreciated all the work she did (I sent her a gift certificate because I felt she really DID work hard and seemed to have a genuine interest in resolving our situaion); but in the end, trying hard just wasn't enough.
So yesterday I get an email from the title company that was working with the original lender, wondering what the status was on the refinance. I emailed back stating that we decide to go with another lender, and we were all set.
Today, I get a bill in the mail for $400 for title certification, commitment, and doc prep fees.
Is this my responsibility? I never, ever recieved a firm commitment from the lender the original broker found, and I never signed anything stating I was responsible for fees incurred by the broker.
Yes, I do have a call in to my attorney, but they aren't around right now, so I thought I'd try here.