I was sent a "you're preapproved for a mortgage refinance under the new laws" letter from 5th Third bank. I spoke with a consultant. After going over my current mortgage information, I sent in my taxes, other income, etc. He said that I was approved and that I could save over $800 a month in mortgage fees. However, I had to pay them $399.00 immediately to get my application in. I gave my credit card number and was told it was running about two months.
Needless to say, after two months, I was told that according to my tax returns, I was not eligable for this refinance. I asked the consultant why, since this was the exact same information that I gave him prior to him taking my (almost) $400. I have not received an answer yet.
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