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I just did a refi with Wells Fargo -- I had a a $11K home equity line of credit with Chase/Wamu that needed to have it subordinated or paid off. Due to our 15 day lock we could no longer wait for Chase's ok to subordinate they take forever which is like blackmail and yes we have plenty of equity. So title company paid off the line of credit (added it to our morgage and canceled it) -- but now we find out that Chase/Wamu is charging us a $500. cancelation fee! We signed nothing during disclosure (good fath estimate costs) that authorized them to cancel the line of credit BECAUSE it was already frozen!!

Right -- we had a three year term like the fine print said -- BUT -- due to drop in home prices, etc...Chase/Wamu FROZE the account - so it was cancelled anway.

Why couldn't title company simply paid it off to Zero balance and save us the $500 bucks? And do we have any hope getting money back -- this sure seems like a case of big bad bank ripping off homeowners who play by the rules, etc.

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Good resource by lawyers..

I have searched on the link it is relay very good. The several active networking groups focused on varying interest, or industry is a wise move that will broaden your exposure and also increase your effectiveness. We encourage and highly recommend that you are involved in more than one group, or both. With expanded exposure comes the opportunity to share your network with a variety of people. You will provide more solutions to more people. They will provide you with more connections. And your network will grow. This benefit goes to you, your network, and your new networking partners.

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  • 1 month later...

Mortgage is the security of the loan that is taken to finance the purchase of a property with interest rates. Mortgage is the lender's security for debt. The mortgagee is the investor or a financial institution that provides loan or other interests in exchange of the security interest. According to the mortgage law, if the borrower fails to pay the loan, then the mortgagee has right to sell the property to pay off the loan.

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  • 3 months later...

Hello all, A mortgage advisor will either sell you a product they get a fat fee for promoting which may not massively be the best for you, else charge you a fee for their advice.

There is wealth of info online. Why pay one way or another? Get good mortgage advice at very reasonable rates with out any type of disputes.

mortgage knoxville

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