I just refianced my house and signed the documents a week ago?
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I was told the loan has funded and it is closed , but the broker I have told me they will not give me the money until I give them more paycheck stub to show I work enough hours to make my mortgage payments! How can they hold my money which I am paying interest on from me without all the documents in then? or how could it close without all documents in? I am confused and mad about the money which I borrowed for a emergency here! the broker said I signed something agreeing for them to close the deal and wait for the money until I can prove I work enough hours to pay the mortgage, I am confused on how it closed and it has already funded a week ago when they still need another document from me to give me my money, please help , is this legal?
I just refianced my house and signed the documents a week ago?Ask your broker to show you THIS form you signed agreeing to FUND the loan and supply the additional documentation. Contact the closing agent - DID the loan fund?? Generally speaking, a lender will not fund until all documents are in; PERIOD. There is a form in the the loan closing package that states you will cooperate with the lender if clerical errors are found or minor omissions occurred. However, IF the lender conditioned for an additional paystub the file usually does not get prepared OR they make that documentation a FUNDING condition. Meaning NO ONE gets paid until you supply that documentation.
So, if the loan really did fund - speak to the lender NOT the broker. If the loan did not fund speak to the title (closing) agent and ask them WHAT if any items are outstanding as a funding condition (They would KNOW THAT) Your broker is not being upfront with you. He/She SHOULD have informed you of ALL your obligations in order for your loan to close AND fund on time.
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