WHEN RE-FINANCING AND YOU DECIDE NOT TO, DO YOU OWN LENDER FOR THE COST INCURRED TO-DATE?

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WHEN RE-FINANCING AND YOU DECIDE NOT TO, DO YOU OWN LENDER FOR THE COST INCURRED TO-DATE?

LENDER INFORM ME THAT i WOULD OWE THAN $1000

Asked on May 13, 2009 under Real Estate Law, Ohio

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You may owe the lender for costs actually incurred but some states preclude the lender or broker from charging you the fee if the loan didn't close -- i.e., didn't happen.  To determine your rights, file a complaint or inquiry with your state's banking department.  The Ohio Department of Commerce, Division of Financial Institutions should be able to help you.  Try http://www.com.ohio.gov/fiin/


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