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days of right of refusal to cancel refinance contract

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dog5691 Joined: 19 Nov 2009 Posts: 3 2.15 Dollars($)	Posted: Sat Nov 21, 2009 9:06 am    Post subject: days of right of refusal to cancel refinance contract Like 0 Dislike 0 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 $500.00 deposit...i live in the state of florida...i notified them with a phone call...an email.. sent a fax and sent an overnight letter to cancel called refinance co. (QUICKEN LOANS) and they said they had a no refund policy. i contacted credit card company to dispute the charge...any thing else i should do?? thanks
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Sat Nov 21, 2009 12:49 pm    Post subject: Like 0 Dislike 0 "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? _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
Guest	Posted: Sat Nov 21, 2009 2:19 pm    Post subject: refinance loan application Like 0 Dislike 0 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 Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Sat Nov 21, 2009 2:31 pm    Post subject: Like 0 Dislike 0 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 $500 was construed to be other than appraisal, you'll be out of luck. if it was to include the appraisal fee, then you need to take this complaint up the ladder...banking commission if there's one in florida, for example. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
George1 Guest	Posted: Fri Aug 06, 2010 2:00 pm    Post subject: Right of Refusal on Contract for Nursing Home? Like 0 Dislike 0 A friend signed a contract today and put money down on a care facility for her mother. She found another she liked much closer and better within 3 hours by chance. We are in Kansas. Can she legally get her money back and get out of that contract today? Thanks!
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Mon Aug 09, 2010 3:29 am    Post subject: Like 0 Dislike 0 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. _________________ Good is the Enemy of Great.

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