Legal Question in Real Estate Law in Illinois

I am in the process of refinancing my mortgage. I am doing my research to get lower costs and better rates. A couple of the mortgage lenders/banks are requesting me to sign a Uniform Residential Loan Application before proceeding. By signing this document am I committing to proceed with them and can be held to any financial costs incurred on their behalf?


Asked on 8/28/12, 12:06 pm

1 Answer from Attorneys
Stephen Messutta

You need to ask them. They may want certain non-refundable fees, including application and credit check fees. And if you go too far, an appraisal fee too. Moreover, every time someone does a credit check it shows up and some consider that a "ding".

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Answered on 8/29/12, 7:28 am


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