refinance

[gonderman]

What is the name of your state? WA

I refinanced and paid off my old mortgage company and went with a new one.

There was an overage paid to the old mortgage company of about $4000.

They were paid on 7/14/07.

They still have not closed out the old mortgage nor refunded my money. They do show a balance of 0 and a refund due of over $4000.

When I call they say they have 30 days before they have to close or refund the money.

Today when I called they said they show the loan was paid off on 6/14, but didn't record it till 6/26 and they have 30 days and not to expect anything till 6/26, is this something they can do?

[FlyingRon]

Welcome to the mortgage servicing customer disservice scam. They'll rant and rave and charge you interest by the day if you owe them, but if they owe you, they'll drag their sweet butt. Start a suit in small claims court, that should get their attention.

[gonderman]

Is it true that I have to give them 30 days, that is up tomorrow?

Or are they just lieing to me that they have 30 days to close out the loan and refund my money?

[efflandt]

I believe 30 days is normal to make sure everything is in order and satisfied. I forget if I refi'd in mid-March or April 2005 (same lender) and did not get my escrow money until some time in May, just in time to pay 1st installment property taxes by June 1.

When I refi'd they gave me an interest bearing checking account to auto pay the loan (and free HELOC if used), and to track that I was paying tax/insurance from that account myself (no minimum balance req'd, as long as it is enough for payments due).