Posted: 4/29/2009 1:26:57 PM EDT
| I received the paperwork today to start the process to refinance my house. I am getting charged $10,900 in fees,closing costs and other bullshit. When I originally bought the house I was only charged about $4000-$4500 in closing costs, fees and other shit. Is this normal? This is more than twice as much as when I originally bought the house. |
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The banks have jacked up fees and real interest rates wherever they can. Consider that when you bought it, the spread between the federal funds rate and your loan was probably 2%. Right now, it's about 4.5%.
Somebody's got to pay for all those losses and resort retreats. In this case, it's you. |
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Quoted:
I'd stop the process and shop around a little closing costs should be no more than 3-400 hundred bucks $300-$400? Never heard of costs that low, especially if you have to pay a recording tax. The fees are typically thousands of dollars, although $10,900 sounds like alot. You should get an itemized statement of the fees, read it and see what sounds like BS. Then try to talk them down. |