Are you getting a steady stream of home financing letters? My mailbox is starting to fill up with mortgage offers (3 or more offers each week) and catalogs I haven't seen in a while. The questions though, is who can you really trust? I'm ready to refinance my home but ...
Every once in a while I get to jump in with a personal story and today is one of those days. We started the refi process with our existing mortgage company GMAC, who I've liked because in the past they held their loans versus flipping them. I live in a wonderful condex in Hampton, NH ... with views of the harbor, and a short walk to the ocean beach. Our condex is 2 units and now I'm wordering why there are condo docs when there are no condo fees? The day before closing, GMAC left a message that it's another $2,000 for the "condo penalty". If you want to learn what this is about, read Condo Financing Comes with a BIG Penalty.
I'm worried that the home financing industry is already back to its tricks, and I've read so many horror stories on ActiveRain, I'm really not sure what to expect. My question for folks here at Active Rain is what % of your deals:
- Closing on original schedule?
- Closing after one or more delays?
- Never getting to closing?
Will keep you posted on whether I get a deal I'm willing to go with or switch loan companies.