Financing in Grand Rapids>Question Details

Jc, Home Buyer in Grand Rapids, MI

Is it normal to be signing FHA Streamline Mortgage application papers that contain incorrect info?

Asked by Jc, Grand Rapids, MI Tue Sep 4, 2012

We applied for an FHA Streamline loan on our existing FHA loan through our current lender back in July. Broker told us that their system didn't reflect the new FHA guidelines, that were implemented in June, so we needed to sign their standard application which included paperwork that didn't apply to us. Paperwork such as agreeing to reimburse lender for appraisal fees (we were not having an appraisal) and not receiving the results of the appraisal until closing... etc. Broker said paperwork would be updated and be correct by closing... Received GFE with errors on our upfront mortgage premium, closing costs more than doubled and also charged for an appraisal. Broker says overestimate on closing costs, mistake on insurance and no appraisal to be done - once again paperwork will be corrected for closing. I am really uncomfortable about signing anything now... Closing to be scheduled in a couple of weeks - broker can't give me exact closing costs as of today (9/4). I am concerned...

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I would recommend you speak with a real estate attorney. Signing incorrect paperwork sounds extremely risky to me.
0 votes Thank Flag Link Tue Sep 4, 2012
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