I applied for a refinance with my mortgage company, and within 24 hours contacted them to decline it. I asked for my $395 non-refundable application fee to be refunded since it had been less than 24 hours. They are refusing my request. Do I have any recourse?
Non-refundable generally means exactly that, unless your state's laws require that fees be refundable within a set period. Sure, the mortgage company could have been willing to cough up a refund given the little time it had your application, but it was under no obligation to do so, since you clearly knew that the fee was non-refundable. Published on BankingQuestions.com 2/06/09
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Non-refundable generally means exactly that, unless your state's laws require that fees be refundable within a set period. Sure, the mortgage company could have been willing to cough up a refund given the little time it had your application, but it was under no obligation to do so, since you clearly knew that the fee was non-refundable.