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Old 01-28-2008, 06:33 PM
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lamagra1913 is on a distinguished road
Default Signed with a mortage but rates dropping

I am sure this is not possible but, always gotta ask. We have already signed all of our mortgage paperwork and everything for our mortgage but our actual mortgage payments/closing on a house does not start for about two weeks.

Is there any way (laws or other) that will allow us to either have them drop down our rate or switch to a different broker?

Thanks,
Lammy

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Old 01-29-2008, 11:05 AM
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Quote:
Originally Posted by lamagra1913 View Post
I am sure this is not possible but, always gotta ask. We have already signed all of our mortgage paperwork and everything for our mortgage but our actual mortgage payments/closing on a house does not start for about two weeks.

Is there any way (laws or other) that will allow us to either have them drop down our rate or switch to a different broker?

Thanks,
Lammy
If you have not closed yet, you can go to another lender at your leisure. There is nothing that can stop you from doing so. However, since all the work is done and you may or may not have all ready paid for an appraisal, you should try to negotiate a better rate with your current lender.

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Old 03-10-2008, 09:48 PM
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Stop right there. If you have a contract in place with your home realize there are reprecautions.

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Old 03-14-2008, 10:38 AM
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If you haven’t gone to closing yet, then you probably have not yet entered into a contract for your mortgage. You probably just submitted an application and locked in on a rate rather than letting the rate float until closing. (You should find out for sure before proceeding.) Find out the best rate you can get elsewhere, and then go back to your lender to see if you can renegotiate. It’s probably best to work with your present lender, because if you simply choose to walk away from your lender you would likely forfeit any good faith money you may have paid to them.

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