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dog5691 · Joined: 19 Nov 2009 Posts: 3 2.15 Dollars($)

signed refinance agreement with bank and canceled within 20 hours of signing,they said i have to pay for credit report...appraisal..(that never took place) and other incidentals....they want to keep my $500.00 deposit...i live in the state of florida...i notified them with a phone call...an email.. sent a fax and sent an overnight letter to cancel

called refinance co. (QUICKEN LOANS) and they said they had a no refund policy. i contacted credit card company to dispute the charge...any thing else i should do??

thanks

gmakerley · Posted: Sat Nov 21, 2009 12:49 pm Post subject:

"refinance agreement" - what is this? did you have a closing? were you given the right of rescission notice? you don't mention any such closing or documentation. you may be out of luck, if that's the case. did you sign anything that said fees are not refundable?

Posted: Sat Nov 21, 2009 2:19 pm Post subject: refinance loan application

i signed a refinance application which read...Your deposit is nonrefundable.Your deposit will be credited towards your closing cost . If you do not fully cooperate in or complete the application process in a timely manner , choose to withdraw your application, or choose not to close the transaction in any manner, your deposit will be applied toward the cost of processing your loan application and out of pocket expenses on your behalf.
You may withdraw your request for the residential mortgage loan without penalty or responsibility for paying additional fees or charges by the lender (except those cost extended on your behalf) at any time.

gmakerley · Posted: Sat Nov 21, 2009 2:31 pm Post subject:

okay...so there's no rescission rights that have accrued to you. it sure looks to me like you've lost your money, though you ought not to have to pay for an appraisal that never took place. if that $500 was construed to be other than appraisal, you'll be out of luck. if it was to include the appraisal fee, then you need to take this complaint up the ladder...banking commission if there's one in florida, for example.

Guest

A friend signed a contract today and put money down on a care facility for her mother. She found another she liked much closer and better within 3 hours by chance. We are in Kansas. Can she legally get her money back and get out of that contract today?
Thanks!

Niicss · Posted: Mon Aug 09, 2010 3:29 am Post subject:

As far as I can understand, your friend may be able to get back the money and cancel the contract. However, this needs to be done within 3 days. If 3 days are passed after the contract has been signed, then your friend may not be able to get back her money.

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days of right of refusal to cancel refinance contract