Recording of a Refinance (condominium, mortgage, lender)

[prfstrkr]

Hi, I am currently in a refinance process ... my old lender is charging a recording fee while I am already paying recording fee to the new lender in closing costs ...

the claims that my old lender makes is that the new lender will only record that i have a new mortgage with the new lender and the older lender will record that i have paid off the old mortgage with them ...

however, my new lender tells me that when they record the refinance they will also notify the authority that my old mortgage is paid off ... so basically my old lender is just charging another set of junk fees

i'd like to seek advices from those have expertise and experiences in this area, thanks!

[nwlv]

How could they take the new lender's word for it? You do have to watch those people, though. I was very skeptical about a "re conveyance fee" one time. I just closed on a condominium and my closing costs were only 290.50.

[mdcrim]

The recording fee your old lender is referring to is probably actually a lien release fee-they charge it to do the paperwork to release their old lien. I don't know if it's a junk fee or not but I think it's always charged.

[prfstrkr]

thank you both for the prompt responses ...