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Answers (2)
- John Cannata, "TexasLoanGuy"
- Contributions:16
Good Afternoon Elflauta,
I have to agree with Connie below. Its best to review the fees in details with the lender that issued the GFE.
Another thing is to call another lender (maybe 3 or 4) and compare. No two companies are exactly the same, although there may not be a ton of differences.
I will say that Reverse Mortgages are expensive. So, don't be surprised if the fees are all validated and the quotes are very similar between the different companies. Good luck!
I have to agree with Connie below. Its best to review the fees in details with the lender that issued the GFE.
Another thing is to call another lender (maybe 3 or 4) and compare. No two companies are exactly the same, although there may not be a ton of differences.
I will say that Reverse Mortgages are expensive. So, don't be surprised if the fees are all validated and the quotes are very similar between the different companies. Good luck!
- ConnieK_Oklahoma
- Contributions:2899
when you say you don't agree with some of teh figures, are you saying you aren't willing to pay those figures or you think the estimate is wrong.
If you are questioning the accuracy, ask for a review of the figures. If you are questioning the fees, take them one at a time and verify you really have to pay them, get an estimate from someone else as well. They are just estimates but there is a responsibility on the lender's part to have a certain degree of accuracy, they can't just random put numbers in and the at closing so - oh i'm sorry...I guess i was off a few thousand dollars...
Contact the lender and go over them in detail. Ask another lender to review them with you.- be up front with the other lender if you aren't loan shopping with them. You might also ask for copies of actual HUD-1 sheets from other closings similar to yours, they can black out the name and address etc and show you numbers from real closings that were similar.
If you are questioning the accuracy, ask for a review of the figures. If you are questioning the fees, take them one at a time and verify you really have to pay them, get an estimate from someone else as well. They are just estimates but there is a responsibility on the lender's part to have a certain degree of accuracy, they can't just random put numbers in and the at closing so - oh i'm sorry...I guess i was off a few thousand dollars...
Contact the lender and go over them in detail. Ask another lender to review them with you.- be up front with the other lender if you aren't loan shopping with them. You might also ask for copies of actual HUD-1 sheets from other closings similar to yours, they can black out the name and address etc and show you numbers from real closings that were similar.
Questions about my good faith estimate
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