Mortgage broker On the Level?
July 27, 2012 1:21 PM Subscribe
Is my mortgage broker drawing out the process on purpose? Is he getting paid now or is it a commission type business?
posted by Kazimirovna to Law & Government (7 answers total)
I have been trying to get a mortgage refinance for over 2 months. I know my situation is unusual: after my father's death my mother (they were long divorced) put up the money to allow me to buy out my siblings.
My mother got a loan on her house and used the money to buy the duplex in my name. There was a mortgage schedule for the loan and I made the payments faithfully. I think this was recorded as a mortgage on the building, not as a private matter.
There were other complications, but I'm not sure they are relevant to my question.
It seems that every day he asks me for more documentation for this and that, some of which I think should have been asked for at the beginning but always seem to hold up the closing. Now he says he is trying for a whole different type of loan and the building must be appraised again. What is going on?