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flash1723
Joined: 18 Feb 2010
Posts: 1
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| Posted: Thu Feb 18, 2010 10:08 pm Post subject: Construction/permanent Loan modification fees |
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| I am just about to modify my construiction loan to a permanent loan. I have been hit with substantial fees for the modification that were never disclosed int he GFE for the construction loan. Can they do this? I don't have enough cash to modify now. i was told here were no closing costs for the modification but the fees and pre-paids they are charging me are more than the closing costs i paid on the original loan |
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Fri Feb 19, 2010 11:58 am Post subject: |
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| No, they cannot. It may be reasonable that a small amount (few hundred) was missed but not thousands. Get your attorney involved. |
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MrPink1130
Joined: 11 Feb 2010
Posts: 17
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| Posted: Sat Feb 20, 2010 4:25 am Post subject: |
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| Yeah, I while you break the contract off heconstruction to perminate loan, they throw you out of your house. The GFE shows what the closing cost will be for the loan, not the mod fees. They get their money, and there isn't a dam thing you can do about it..... |
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