We decided to Refi our home loan while the rates were low. We checked with three lenders. Our credit union, existing loan company and one other. Countrywide our existing loan holder said the rates had gone up and i should wait till the stock market comes down. So when the rates came back down i stated calling again. The credit union wanted 1.75pts to get the rate i wanted. High i thought being my score was mid to high 700's. But I'd live so i got the ball rolling. I decided to call countrywide back and told them what the credit union offered. They said they would give it to me for a half pt. Less. They sent me a lock in agreement which states the agreed upon rate.
So i called and canceled the first refi with the credit union. Cost me 250.00 bucks. I'd live with it being im getting a half pt. Lower rate. Well after three weeks a mountain of paperwork. Countrywide called and said they had made a mistake and they would be charging me 1,87pts. After some hard selling on their part. I told them to put it where the sun don't shine. That they would have to refund my app fee of $400.00 and we would go our separate ways. Which they agreed to do. Have it in writing for what its worth.
Well i went ahead a disputed the charge with my card company cause i didn't trust Countrywide. They still haven't refunded the fee as agreed. Its going on two months later. I do have all the documents related to this. I'm sure it will be resolved. Just a warning get everything in writing. I have refid with another lender at the low rate i wanted and closing in a couple days no problems. Now Countrywide has been bought by BANK OF AMERICA. Good Luck
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