QUESTION
i have an existing re finance mortgage rate lock still in effect, and received a call today saying they will not honor it because market conditions ch
Asked on Jun 21st, 2013 on Consumer Fraud - New Jersey
More details to this question:
changed. I have the lock in writing. is this not a legally binding agreement? and an immoral and unethical practice?
1 ANSWER
Criminal Defense Attorney serving Toms River, NJ
at
Edward J. Dimon
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the bank's fine print will allow them to wiggle free from the 'rate lock'. the bond market has collapsed in the last two weeks. see today's 'new york times'. i would work with the bank today on a new rate before rates go even higher. please let me know if we can help with your re-financing. ed dimon, esq.
Answered on Jun 25th, 2013 at 11:37 AM