Obligation to go to Settlement for Refinancing
At this point, I have signed/submitted application to refinance my mortgage through my current mortgage lender (for a lower interest rate), it has been approved, and I have selected/provided information to a title company (and they have forwarded information to the mortgage lender). I have found the lender, for the refinancing, to be extremely nonresponsive to both me and the title company, to the point where the lender claims not to have received information from the title company, even when the title company has fax confirmation sheets to prove the information was provided (of which I have been provided copies.) I am coming up to the end of my interest rate lock. That, and other concerns about the lender, may make me NOT want to settle if the terms turn out to be not what I had expected. My questions: (1) can I choose not to settle (and, obviously, continue with my current mortgage arrangements) and (2) will I be exposed to any liability to either the lender or the title company if I choose not to settle? I have already paid the lender $900 in fees (charged to my credit card), which I would expect to be very difficult to get back. I'm trying to determine if this would be the extent of my liability. Thanks, appreciate it.