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mortgage broker problems on const. perm loan

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M

mrmrsflweb

Guest
i live in st. augustine,fl. we are using a mortgage broker for our construction perm loan. we started the process in nov.2001 whereby we would lock the rate at the end, but would have 5.52 financing during the construction. when we signed the good faith the term on that said 6.5 with a float yield of 1 to 2 % . Now, in March, she had us sign a new good faith and told us we would be locking, but this good faith just showed a rate of 6.75 with a float yield of 1 to 2 %. The mortgage broker verbally told us that there would be no point, but then on the good faith estimate she put 1 point in there. Do we have any recourse with the changes that she made on our good faith estimate . both good faith estimates state that this is an estimate until rate lock is signed. The mortgage broker has been very shady when dealing with us and changes things that shes says verbally to the written continuously. What advice can you give to us?
Thank you
Margaret Magras
 


M

mrmrsflweb

Guest
thanks

Thanks for that information.......i didn't know there was such a dept.
 

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