Zillow Advice: Refinance - Underwriters are dragging their feet, now lock is about to expire, can I refuse to pay ext fee? http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ Zillow Advice | Zillow Real Estate I don't think you can.&nbsp; ... http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ I don't think you can.&nbsp; They will take the time the need to close loans and this is usually longer than locks if it is for only 30 days Wed, 29 Jan 2014 21:57:00 GMT http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ 2014-01-29T21:57:00Z Depends on who you're working ... http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ Depends on who you're working with and the situation.&nbsp; For example, if I'm working with my client and they've been diligent throughout the entire process and we're facing a lock extension, I'll be OK with covering the fee.&nbsp; Just as long as it's not too expensive.<br/><br/>However, if the <a href="http://www.zillow.com/mortgage-glossary/Borrower/">borrower</a> was late in sending items in and was difficult to work with, then it's the borrowers fault and I will not pay for those delays.<br/><br/>You also should look at the market, are rates up really high?&nbsp; You might want to take a look at letting it expire.&nbsp; You could get away with simply, re-locking.<br/><br/>WARNING:&nbsp; Rates can and have gone up by .5% and more in one day.&nbsp; So float at your own risk.<br/><br/>But to answer your question, if you refuse to pay, then your lock expires.&nbsp; Somebody has to pay it to keep it locked.&nbsp; Otherwise consider it gone.<br/><br/> Tue, 23 Jun 2009 03:54:00 GMT http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ 2009-06-23T03:54:00Z Regardless of what path you ... http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ Regardless of what path you choose, address the lock BEFORE it expires with your <a href="http://www.zillow.com/mortgage/">loan</a> originator. You will have more option's this way. Tue, 23 Jun 2009 01:02:00 GMT http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ 2009-06-23T01:02:00Z You and only you can answer ... http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ You and only you can answer that question.<br/><br/>First, you have to weigh out the cost of the extention vs. what the new rate might be now.<br/><br/>Good luck and if your <a href="http://www.zillow.com/mortgage/">loan</a> officer is worth their salt they will help counsel you thru this matter.<br/><br/>Good Luck Mon, 22 Jun 2009 23:27:00 GMT http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ 2009-06-22T23:27:00Z Of course you can refuse.&nbsp; ... http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ Of course you can refuse.&nbsp; If you are working with a broker, they often will be willing to absorb the fee on your behalf.&nbsp; However, if you locked in before the sharp rate increase, you must also be prepared for the consequence of an expired lock. Mon, 22 Jun 2009 23:23:00 GMT http://www.zillow.com/advice-thread/Underwriters-are-dragging-their-feet-now-lock-is-about-to-expire-can-I-refuse-to-pay-ext-fee/248693/ 2009-06-22T23:23:00Z