As most of you know i was trying to get my house refinanced well i got the loan and closed on it Wed. The thing is it wasn't the greatest deal but i had to take what i could get. Well in the loan we were supposed to be buying down the rate from a 10 something % to a 9.7% intreast rate it was costing us $2200.00 well i am working with a broker and he helped us last time and said he would not charge us for a loan this time because of that. so when we went to sign the papers at closing i noticed that the $2200.00 was put on there as a broker fee
i got really upset I then find out that we are not getting the $1700.00 cash out that we were told we were getting instead i owed $1300.00
so the broker gave me a broker credit of $1300.00 to cover the closing and told me that i would have to pay it back because it was coming out of the $2200.00 for the loan buy down to the lender. I got really mad then and i was fuming so he and the tittle lady got really nervouse which made me really suspicious. Come to find out after talking to 3 other brokers (from different companies) that there really wasn't a buy down at all and that my broker was pocketing that $2200.00
I am so mad right now!!! I don't know what to do because i am not going to pay him back money that was supposed to be mine and he is ripping me off!!!
This is the thing there is a $900.00 diff between the $2200 and the $1300 and i want my $900.00 back! I really need it. I have to wait untill Wed till my loan funds so they can't try to cancel it but should i call the broker's company and demand my money back or just eat the loss? I really need help from a loan officer or a lawyer i am deperate and very angry!! WHAT DO I DO?
BTW i looked at my papers from my last loan with this broker and he was only supposed to charge us 1% for his fee's and i found out he charged us 2.27% and got another 1% on the back end he made over $6000.00 off us last time