John Brogan sold me on a mortgage in September. I was 6 months pregnant. He gave me a good faith estimate for fees totaling $1,339.87 on 09/10. I had liquidated my 401 (k) (about 22k) to cover closing costs & downpayment. I assumed I'd be putting down 12-15k. I told him that I needed all of the 401 (k) proceeds to go to the mortgage so I didn't have any penalties from the IRS. I guess John took that as he could just increase all of my fees.
10/11/07, the night before closing, he emailed me a new good faith estimate. Closing costs (not including taxes, interest, or insurance) was $4,666.17.
10/12/07, at the settlement table, my HUD showes my total closing costs (not including taxes, interest, or insurance) were really $13,037.92.
Out of my total 401 (k) proceeds, I only ended up putting 6k down on the principal! John Brogan is a liar and should not be trusted.
Oh, and my interest rate started at 6%, but by the time he locked it in, we ended up getting 6.875! We told him everyday to lock it in before it went too high.
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