Best of Luck!
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Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
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It is the usual excuse not to refund your money, let me guide you:
- Ask to them for statue of limitations on claims
- Ask their NMLS register number and DRE #
- Give them a time frame to refund the money to you
- Go to google get NMLS page get to it call them and initiate a complaint., them call DRE and initiate a complaint.
Even better tell them what you are about to do and if they are smart and legit they will refund to you on the spot.
Just to be clear, the agreement was in writing and I was told that the reason I can't get the money because it's "too late" and should've been caught earlier. It's not because they are disputing the fees/credit.
Thanks again everyone
If your loan agent agreed that the company was to pay all your closing costs, you should have been credit ALL your closing costs.
Review both the GFE and the closing statement.
When the lender drew your loan documents, it must match your GFE.
You may see on the closing statement (HUD) that you were credit all your closing costs plus an additional amount equivalent to your appraisal fee.
Look at your closing statement. Compare all your 'one' time closing costs to the credit the lender gave to you. That credit should cover all your one time fees including your appraisal fee (even though the appraisal fee has already been paid by you). This extra can go toward the interest either on your old or new loan or your escrow account.
If this is not the case, the lender can write a check back to you to cover that appraisal fee.
The borrower should pay for their appraisal up front and then be refunded (credited) at the time of close.
If your loan agent cannot get your appraisal fee back to you from her company, she should be writing you a check for it as that was your agreement. She should be backing up the type of loan she had you agree to originally. cg
By the way, John makes a good point. How did the appraiser get your credit card number?
The best is for you to ask for the loan officer manager and explain your point, if you think that you are right and they do not comply with what was offered to you at initatial sale call DRE (department of real estate of california, go to google and get the info).
Many realtors and loan officers (specially loan officers) in this industry use a bait to get client in or to secure a deal. That practice is very common and it is our job in this industry and blog panel to help to clean our industry. Our industry as one of the highest in the market and we should be proud of it by doing the right thing.
I basically threatened what Larry suggested and it was resolved rather quickly. Sometimes simply not taking no for an answer and going up the chain gets it done.
Then if they still demur on giving you a refund follow through.
I will note that you may be required to resign a modified HUD1 and should not have an issue with doing so.
But I have to ask... how did the appraiser get your credit card number? You shouldn't have given it to anyone during this process.
If your HUD does not reflect appraisal fee, then your credit card charge is valid. You are responsible for the appraisal fee unless the loan officer waived this for you.
If you are charged twice, call the loan officer and discuss this with her. I had a client who was charged twice and the loan officer addressed this issue by asking for the statement showing the charge. Then my buyer got the refund eventually.
I hope this helps.
Best of luck to you,
Prudential CA Realty