Complaint / review text:
Chase is the owner of my mortgage. I recently attempted to refinance my mortgage through the HARP program. Unfortunately, at this time, I feel that Chase is taking advantage of my financial hardship. I recently signed paperwork to refinance my mortgage. The initial terms of this agreement was to receive a 3.85% interest rate with a closing cost of $3,112.65 and a $395.00 processing fee. When I returned to facility the day following the offer to pay the $395.00 processing fee as agreed, I was told by the staff that the interest rate had changed to 4.125% and the closing cost remained the same at $3,112.65. Even though the interest rate was higher than what I discussed the day prior, I did agree to refinance at the 4.125% rate with closing cost of $3,112.65.
At that time, I signed the agreement and paid the processing fee. A few weeks later, I received by mail the good faith estimate. To my surprise and dismay, the new proposed closing costs on the document is for $8,165.95. I was charged $2,035.65 for the points and $6,1303.00 for the closing costs. I was charged for points that are close to almost double the market interest rate and closing costs that are double what was agreed upon initially. A month later and I am still waiting for the money (application fee) from the Chase Bank.