R
RogerM
Guest
What is the name of your state?
California
I just closed my refinance and noticed the following charges in the closing costs.
Prepaid interest to New lender: 01/23 - 1/30 = $x
Residual interest to Old lender 01/01 - 01/28 = $y
This sounds like I am being charged interest for some overlapping time(5 days 1/23 - 1/28) from both the lenders. Is this legal? Why should I be paying double interest?
Thanks
Roger
California
I just closed my refinance and noticed the following charges in the closing costs.
Prepaid interest to New lender: 01/23 - 1/30 = $x
Residual interest to Old lender 01/01 - 01/28 = $y
This sounds like I am being charged interest for some overlapping time(5 days 1/23 - 1/28) from both the lenders. Is this legal? Why should I be paying double interest?
Thanks
Roger