My loan was 141.000 Now its 156.000.  After refi.  I didnt know how much it should cost.  But i have been told now it should of been only 3-4 thousand.  Is that true?  If so is there any thing i can do? 

We would have to see your Settlement Statement to see where that $15,000 went.  Was an escrow account for taxes and isurance set up?  Were there past due taxes or was the current intallment due prior to 30 days after your first payment? 

Holy crap dude you've been hosed!! Pop the settlement statement up.

Did you have a pre-payment penalty??

No taxs owed.  No pre- payment penalty. No escrow.  Is there anything i can do?  What should be my next step? 

Was it an FHA loan?  What was the payoff amount on the 1st mortgage? 

The first step is to list the items that have amounts by them on the Settlement Statement.  If it was an FHA loan, if you paid a split premium or single premium for mortgage insurance, or if other items were paid off; this may not be unusual.  If your payoff was $141,000 and you were charged $15,000 in closing costs, there sounds like there is a problem.

Was not a FHA loan.  There was a 130,000 fixed and a 11,000 arm.  I dont belive i ever recived a settlement statment.  I will call them and get that statment.  Yes the payoff was 141,000.  And after the refi the loan amount is now 156,000.  Thanks for all your replies!

Your Settlement Statement is one of the documents that you received at closing.  Did they give you a copy of all of the documents that you signed?

Was the new loan through a bank?  How was your credit when you refinanced?

No i never recived any documents. It was through Countrywide mortgage. My credit was better that when i bought the house. Around 720

Thanks

Do you know which title company was used?  You may have closed in the title company's office...  They would have a copy of the Settlement Statement.

something is not right.  Even if the lender charged 5 points...that's only $7500 bucks, and the normal title insurance, escrow prepaids wouldn't be more than a few thousand.  Call the existing servicer, demand a copy of your settlement statement, pull the deed, see who the "Trustee" is on your Deed of Trust, it is a title company....find the manager of the local office...get a copy of your HUD-1 settlement statement from them.  What state are you in?  Call the local state agency that governs mortgage companies in your state.  Now it was a bank - nobody regulates them, they regulate themselves....p.s.  Countrywide is a bank.  If it was one of my relatives, I'd file complaints with every state agency I could find.  Feel free to email one of us for more direct help...we like the challenges!

Curt Sandfort:

that's only $7500 bucks

 that doesn't sound the way I meant it to sound...of course $7500 bucks is a heck of a lot of money...and way to much to be paying on a $140k loan.  All I meant was that it still isnt' close to $15k.

Curt,

I agree, there is something that is missing here.  If Countrywide was the lender, you know that they could have never had 10% in fees.  There is an explanation, we just need to find out what is.  We need the HUD.  I am not ready to throw a broker or lender under the bus until there is much better information than what we have currently.  If they were charged $15,000 in fees, we'll hang them, but let's at least get a line by line accounting from the borrower.