Legal Question in Consumer Law in Illinois

I applied for a mortgage on 07/29/14. I finally found a home that we liked and locked our rate on 08/29/2014. On Septermber 3rd, the lender came out with a promotion to waive the origination fees. I requested the lender to waive the rate lock from 08/29/14 and lock in my rates for 09/03/14 with the origination fee waiver. the lender refused to do it and said that if i withdraw my application and try to reapply, I cannot do it for 90 days. Do I have any recourse in this matter?


Asked on 9/04/14, 12:23 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

If that offer was not available when you applied, it is unlikely you can legally compel them to waive their fees. Your best bet would be to take your business elsewhere. Perhaps this possibility would be sufficient to have them reevaluate their position.

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Answered on 9/05/14, 5:58 am


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