Question: Fleet’s “Rapid Refinancing” program was supposed to promptly file the paperwork — but they did so only two days before the 45 day time period expired. During this time the stock market was going crazy with the end of the federal govt shutdown – It is obviously to their advantage to allow this to happen.
Now the interest rates are 9.0%. I’ve gone back and forth with them and apparently this happend to a whole lot of people (“three stacks worth”) who’s refinancing expired on March 11, 12, 13, 14.
This Sucks!
Did YOU file with Fleet Real Estate Funding of Columbia SC during Jan?
Do you know if I have any recourse?
Answer: A similar thing happend when my dad was refinancing. The mortgage co. sat on the paperwork on a 30 day lock. He had his lawyer write up a letter and he was refinanced at his lock-in rate within 2 weeks.
You might try this first. A hundred bucks to make them squeeze out your note might be worth it. Did you lock your rate in?
Can you show it was their negligence and not yours?
Rates right now are still below 8.5% on a 30 year mortgage – shop around.
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