10
That guy at the credit union pushed me into a cash out refi that just cost me $5,000
Six months ago I went to my local credit union in Columbus to ask about paying off some debt. The loan officer swore a cash out refi at 4.8% was smarter than a personal loan because of the lower rate. He didn't mention the closing costs would be $5,200 until I was already in the paperwork. Now I'm sitting here with a bigger mortgage and my debt is paid but I'm out five grand in fees. Has anyone else gotten burned by hidden costs on one of these deals?
2 comments
Log in to join the discussion
Log In2 Comments
rosek4424d ago
@spencer_chen6 ever wonder if the loan officer knew exactly how to time the paperwork so it felt too late to back out?
7
spencer_chen624d ago
You signed the papers though right? Nobody put a gun to your head and made you close on that loan you could have walked away when you saw the fees.
3