Originally Posted by Indigo_
The most important thing i learned is that you have 3 days to cancel your mortage contract. (I don't know if I am refering to the process correctly.)
When I went to refinance my house I went through Ditech.com, I'm sure you have seen the commercials. A mortgage lender from California contacted me and gave me a good quote. The trouble is the interest rate and the closing costs changed everytime I spoke to him and saw any kind of papers.(The closing costs went from originally $3,000 to over $9,000 by closing) I felt uncomfortable about it but the entire process is so complicated it is hard to figure it out. Regardless, when I went to closing the lady who was processing my paper work listened to my story and basically said to me if yu don't feel good about it cancel it and I did. I received a call from the company and amazingly the original guy I talked to said they had found 6,000 worth of errors and they would be happy to fix the paper work. Yeah, right. l
Long story short do your homework. Those closing costs can kill you. I went to my credit union and for a flat $2,500 in closing costs got my house refinanced.