It this legal..I need help! - Posted by Robin

Posted by I.R. on September 22, 2003 at 19:02:22:

Isn’t a mortgage broker required in every state to be licensed by that state?

If your state does require it, your next call ought to be your state’s Mtg Broker Licensing Agency.

File a complaint with that agency and that may cure your problems, if the broker didn’t fully and totally disclose all costs, fees, etc.

It this legal…I need help! - Posted by Robin

Posted by Robin on September 20, 2003 at 21:27:34:

I bought a home and a finance company lent me the money for the purchase and took a 2nd mtg for their fees. At closing I excrowed enought money to pay my downpayment, pay my closing cost and it should have been an overage of about 4500.00. I left the overage at the escrow agent in case I calculated wrong and need more. They were suppose to give me back anything legt over. Well they kept the 4500.00 and said it was to pay for most of the fees that would and created a 6200.00 2nd mtg. Well they kept the money and still record at second mtg for the full amount of the fees. The title company agent was instructed by the excrow agent not to give me the check. They gave me a copy of the check and that it. If they were going to keep my money shouldn’t the have record only a 2nd mtg for 1700.00. Is this legal? What recourse do I have. Is there a federal law against this and is there something I can file against them to make them give me my money back plus damages.

Thanks Robin