Nickel and Dimming me to death

[williamd1972]

I am schedule  to close tomorrow  afternoon and  I've been  reviewing my GFE and Hud 1. I Just want to ask Forum what Bogus- Closing fee I should argue against paying?

Escrow fee 100

Courier fee   50

Departmentals 750

Endorsement 185

Agents portion of Title insurance 575

[Anonymous]

Um...none? Those fees look pretty typical, and I doubt you really want to delay closing over fifty or a hundred bucks.

[ShanetheMortgageMan]

I agree with Rollercoaster, they are all legit fees, except you may have wanted to get an explanation on what "Departmentals" is for, that is a new one, but doesn't mean it's not a legit cost.  You should also bring these items up well before closing, as having them changed once you get to the closing table would require the documents to be redrawn and add a few more days to the process... not to mention all parties involved (seller, closing agent, your and the sellers agent) could be slightly irritated by your decision to bring them up at the very last second.

[BrianB_The_Loan_Professor]

These fees should have been on the GFE which was dlivered long before you got to the closing table

I agree it is too late in the game to be questioning this stuff

Let us know what that Departmental fee is for because I havent seen that one either

These are all pretty standard title costs

Good Luck

B

[williamd1972]

My family and I have the customary  walk through around PM Friday, everything fine.  We proceed to our PM closing at the seller's Attorneys office.  My wife  and take a seat   inside the conference room where everyone is gathered around conference table, My  lawyer, Bank Attorney, and Tile Company,etc.    Before  we can sign  a  single  document, the sellers  bank calls  and rescinds payoff.   Long-story-short: No Closing, No House,5 months down the drain!

Thanks

[ShanetheMortgageMan]

Ouch, sorry to hear.  Was this a short sale?

[Anonymous]

Is it legal?

[williamd1972]

Yes, it was a short sale with two mortgages. The 2nd was a charge off. I think the charge off was the issue, Im not sure. 

[williamd1972]

I don't know if it was legal or not.....  If I learned anything during this financial crisis, it is, banks do what they want.

[ShanetheMortgageMan]

Was the closing done within the time frame requirements of both 1st/2nd mortgages who were approving the short sale?  Had a friend who was buying a short sale and they went to closing a day after the date listed in the short sale agreement from the lenders, but they were able to get extensions on the closing date and just went in to close a week later.  Hoping something similar could happen to you.