I try and help people on some of the forums by answering questions and helping people with their real estate related issues. I may not know all there is to know about mortgages, but I can tell when someone is getting the raw end of the stick. Case in point this morning, a nice lady was discussing her issue and I just had to jump in and help.
She refinanced her property, with no help from anyone else, she went to close and she found that her costs at closing had risen 800% and she had to come to closing and bring money. She was outraged, with good reason, I said. She then said that she has tried to contact her mortgage person 10x and has no luck with getting a solution that works for her.
Anytime you have a profession that involves lots of money, you are going to find it regulated, legal or not. So mortgage people are licensed and regulated at the state level as well. I suggested she put in a complaint with the Better Business Bureau and the State agency that regulates that behavior. I also suggested she speak with an attorney, maybe a pro bono person from the free legal aid group.
One way or another, this woman needs someone to represent HER in front of these people she dealt with for her mortgage. Until she finds someone to help her, she is at THEIR mercy and that is not a good place to be or live, as you lose sleep when you are uncertain and the anger eats you up inside, ask me how I know. So make sure you have someone to look over or help you with transactions involving real estate. It is worth having that peace of mind.
Liz
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