We are in Illinois, and I need to know the laws regarding this timeframe. The original lender said they could not refinance us at a more favorable rate, so we shopped and found another which could. We completed the paperwork, and made a written request that the mortgage be released to the new lender, yet the old company is seeming to stall. I understand they don't want to lose the loan, and that every day (minute!) that they hold onto it, they make more money off of us, but it is over a week now. When we call them, they pleasantly tell us they are so sorry, but there is a delay in processing, and they hope it will take place "by the end of today" (for 4 days now). What is the law regarding this, and how do we proceed? I fear they will delay us so long, that our next payment TO THEM will be soon due. Thanks!
2006-11-21
00:18:22
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7 answers
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asked by
mahleezah
7
in
Renting & Real Estate