Question by Patricia: If I apply for a mortgage, can I back out of the application before closing?
I recently signed on with a refinance company to process the refinancing of my mortgage. The same day I signed the application I found out they approached my current mortgage co. to get a payoff amount. They requested the payoff five days BEFORE I agreed to use them for my refinancing and without my approval. Can I cancel this application?
Answer by Tammy Vivat
Know better? Leave your own answer in the comments!
You can cancel for any reason, any time up to 3 days after the signing of a refinance and up til the day on a purchase.
you sure can
just call them and say no thank you
In most cases there will be a fee attached to backing out. Check with the bank policies.