I get home loans Infinity mislead in my process of refinancing?

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Infinity Home Loans I use to work and was told first that I need to refinance a rate of 4.375% on my existing mortgage. It was appreciated on my good faith. The application process and review has been very effective. Then I was told the price and I can not lock in the rate of 4.375% I wait to see if interest rates lower, I müssen.Habe mislead with this huge price for it? Should I try Infinity and housing loans to pay for my opinion, if I do not close on a loan ($ 425).


  1. Reply
    Patrick Lea, A Cincy Realtor(R)
    May 15, 2011 at 12:59 am

    It depends on when you first talked to them. 4.375% WAS a legit rate a couple of weeks ago. Rates have gone up a TON as the result of the Federal Reserve essentially printing money to buy back US Treasury Debt. If you actually lokded in, you’re getting hosed. If you did not lock in, then you are stuck with where the market is now.

    @ ETHEL….

    We do not know if he locked his rate in or not. If the rate was not actually locked in, then it is entirely legitimate. Would you expect to be able to buy stock that went up a bunch today at yesterday’s price? No, it doesn’t work that way. Ultimately, it depends upon whether the rate was in fact locked in.

  2. Reply
    Ethel C
    May 15, 2011 at 1:26 am

    I would call this bait and switch tactics, or your loan person is not competent.

    The mortgage industry is full of bait and switch con artists and incompetent people

    It is difficult to tell where the incompetence ends and the fraud begins.

    I would cancel your loan application and find a more reputable, competent and reliable company to work with.

    To get the $ 425 back you will probably need to sue them in small claims court.

    However even if you cannot get the $ 425 back it is better to cancel your loan application than to work with people who bait and switch you or are incompetent..

    The $ 425 is a small amount of money compared with the enormous amount of damage that dishonest and/or incompetent people can do to you with your loan

    I recommend that you find someone is both honest and competent to handle your loan.

    When you find that you are working with dishonest people it is best to dump them immediately and start over with honest and competent people.

    Edit to Patrick Lea: If the loan officer did not inform the asker of the lock process in the beginning, the loan officer is not sufficiently competent to be doing loans.

    If the loan officer had explained the lock process to the asker in the beginning, this question would not have even come up.

    I would cancel the loan application with this company and find someone who is competent to work with.

  3. Reply
    the kid
    May 15, 2011 at 1:47 am

    No. You just didn’t lock the rate and rates went up. This is why you lock a rate.

  4. Reply
    katlin lenker
    May 15, 2011 at 2:18 am

    I had a similar situation a few weeks back. Save yourself some time by click on first and tenth links on http://www.theloantools.tk

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