Legal Question in Real Estate Law in California

Do I have a case to recover Appraisal Fee and potential savings on Mortgage refi

I choose a Mortgage company via the internet to

refinance with at a no cost no fee 20 year rate of

5.125% on a balance of 217,000. Upond my request I

was sent a good faith estimate via email. Everytime

paper work was requested of me I provided it via fax

within 2 hours the same day. When an appraisal was

requested I had that done within 4 days when it was

taking 4 weeks.( I had refinanced 9 months earlier and

had an appraisal done. I had a good relationship with

appraiser). I was concerned that the process was not

moving fast enough I was assured that everything

would be fine. I made another phone call close to rate

lock expiration and was told the paper work would not

be done in time to receive 5.125% rate. Can I take this

company to court to recover $300 I spent on appraisal

that was sent to the Mortgage company and for the

$125 a month for twenty years that I would have been

saving? Thank you,


Asked on 7/28/03, 5:50 pm

1 Answer from Attorneys
Lyle Johnson Bedi and Johnson Attorneys at Law

Re: Do I have a case to recover Appraisal Fee and potential savings on Mortgage

You would have to prove that the online lender breached a promise to you. This can be very difficult unless there are written documents to support your position.

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Answered on 7/29/03, 1:23 am


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