Ok, last year we thought long and hard about re-financing our home, we were in a bit of a jam and could hopefully recover a little dept by re-financing.
We started our process in late July and we were to close after all was said and done in Sep. We had our loan documents signed and ready to go.
We recieved a phone call early sept from our broker letting us know that we were not going to be closing later in the month like we thought because he was going on vacation and the appraiser could not make his appointment on the scheduled date anyway.
We asked what we were going to do and he told us he was sending us some forms wich were "right to cancel" forms. We signed and started the process over a couple days later. There was no question as to wether or not we closed in september because the bank had notified us on recieving the paper work in writting.
We then proceeded to the next step, we signed all new documents "final" and closed on october 17th. We recieved all documentation stating that our paper work was complete and our first payment would be due in Dec. 15 days after we closed and the company paid off our other bank in full on oct 31, we recieved a letter from indymac stating that our payment was due in nov instead of dec.
We sent them our info stating that our payment was not due in nov, and we showed them the right to cancel forms and informed them that they had only payed off our existing loan three days proir. We even showed them our new loan number and sujested that they were going off the old loan number.
They said they would have to investigate it, well three months later after calling every two weeks, they were still investigating the matter while charging us all that interest.
When all was said and done, they said we still signed the first deed. So does that mean that the new deed that we signed is non-foid? And they stated they would need to due further investigation. We told them that we were ok to make the payment but the payment needed to be put on the end of the loan and they needed to take the intrest that they have been charging on our account for late fees ext would need to be addressed and taken care of.
In the end they told us that we had no other choice but to make the payment over a twelve month period. That way they could still show us late making that payment, and still charge us thousands in intrest for being late.
Trust me out there people, this is the very first time we have ever been ripped off by a bank so when your choosing to re-finance, please re concider getting your funds threw IndyMac, they will rip you off.
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