Legal Question in Real Estate Law in Colorado
Victims of County Wide Home Loan
My wife and I became new customers of Country Wide in 2006. We recently learned from another lending agency that we have a pre-paid penalty of $6,000 if we refinance before 2011. This was not disclosed to us at closing and we had no clue from CW that this was part of the agreement. I've asked CW several times to take the hidden fee away but they decline to do so. How can we get them to deduct this amount?
Please respond.
Greg and Jen
2 Answers from Attorneys
Re: Victims of County Wide Home Loan
This is usually disclosed in the Federal Truth-In-Lending Statement. Sift through your closing papers and see if you can find it. If you have a copy and it was not disclosed there (I agree with Mr. Murillo that this is not common), then take all of your papers to a real estate lending attorney for evaluation.
Re: Victims of County Wide Home Loan
Bring all closing documents to a real estate attorney. If was not actually disclosed (which is fairly rare), then you may have a basis to revise the loan terms.
Contact an attorney.
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