S
scarlettoo
Guest
What is the name of your state? California
Hi,
I live in Ca. and approximately a 45 days ago I refinanced my home thru a mortgage broker. After signing the loan papers I received a letter from the mortgage company stating that they have sold my loan to another mortgage company and that my interest rate has gone up 1 point from what I signed for. And the new company took 15 days to send me a certified letter informing me that they have bought my loan from the original company. I was locked into the orginal interest rate for 3 years and the new companies letter they sent stated that the interest rate from the original loan company was incorrect and made it a point higher. They said in the letter that we could refinance with them but gave us a time limit to respond to this offer but the letter got to us 1 day before the deadline. Is this legal? If is is illegal do you know if this is going on a lot in California? Also, can you give me advise on how to handle this...
Thank You for your time
Much Appreciation
Hi,
I live in Ca. and approximately a 45 days ago I refinanced my home thru a mortgage broker. After signing the loan papers I received a letter from the mortgage company stating that they have sold my loan to another mortgage company and that my interest rate has gone up 1 point from what I signed for. And the new company took 15 days to send me a certified letter informing me that they have bought my loan from the original company. I was locked into the orginal interest rate for 3 years and the new companies letter they sent stated that the interest rate from the original loan company was incorrect and made it a point higher. They said in the letter that we could refinance with them but gave us a time limit to respond to this offer but the letter got to us 1 day before the deadline. Is this legal? If is is illegal do you know if this is going on a lot in California? Also, can you give me advise on how to handle this...
Thank You for your time
Much Appreciation