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Is a lender lock in fee non refundable in Florida?

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dfarris50 Joined: 29 Aug 2011 Posts: 1 1.25 Dollars($)	Posted: Mon Aug 29, 2011 6:23 am    Post subject: Is a lender lock in fee non refundable in Florida? Like 0 Dislike 0 Is a lender lock in fee non refundable in Florida?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Aug 29, 2011 7:21 pm    Post subject: Like 0 Dislike 0 Hi dfarris! Welcome to forums! As far as I know, your lender will not be liable for giving you a refund of the lock-in fee if you withdraw your application, if your credit is denied, or if you do not close the loan. Feel free to ask if you've further queries. Sussane
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 516 Location: Australia 82.74 Dollars($)	Posted: Wed Aug 31, 2011 12:18 am    Post subject: hi dfarris50 ! Like 0 Dislike 0 You will not be able to receive a refund. The investor has already made a commitment to deliver the loan into the secondary market, so now they are going to have to replace that loan somehow or absorb a loss. My answer would be that the lock-in fee, is non-refundable however, I don't know if it also applies in Florida. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker

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