Monday, September 18, 2006
House #2: Good Faith Estimate
Aside from all the other issues regarding conventional financing, the one thing I hate most of all are all the garbage fees they throw in. Courrier fee, attorney fee, doc prep fee, this fee, that fee, and so on - it's crazy. Last week, my broker sent me the good faith estimate (GFE) for the two loans. While I was expecting the worst, I was really hoping for the best. Well, I should have just expected the worst, because that's what it amounted, too - or so I thought. I got a revised GFE from the underwriter today, and now you can say worst + ~$1,300. Seems, the title insurance wasn't on the 1st GFE and they decided to add the survey cost into the GFE even though I said I'd pay out-of-pocket for it. Oh, joy. So now I'll be $1,000's in the hole before the deed is even in my hands. Now I remember why preforeclosures are so nice (not that they don't have surprises of their own). ;-)
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