b*****t
发帖数: 36 | 1 I am paying off my mortgage, and I am asked to pay fees for satisfaction of
mortgage and recording fee about $500 total.
One of my friend said no such charge at all. Any comment? |
i******e
发帖数: 1720 | 2 一般就是 几十块recording fee，一点documentation fee, 再加上最后的利息，会多
预估一星期。你看到payoff statement 了吗？
of
【在 b*****t 的大作中提到】
: I am paying off my mortgage, and I am asked to pay fees for satisfaction of
: mortgage and recording fee about $500 total.
: One of my friend said no such charge at all. Any comment?
|
n*******9
发帖数: 3244 | 3 you will have to pay the recordig and document fee charge by your local
county unless you don't want to get a clean title without lien on it.
depending on your local gov fee schedule, the charges may be about $200 or
may be more. every time you buy/sell or refi, you will have to pay these.
of
【在 b*****t 的大作中提到】
: I am paying off my mortgage, and I am asked to pay fees for satisfaction of
: mortgage and recording fee about $500 total.
: One of my friend said no such charge at all. Any comment?
|
b*****t
发帖数: 36 | 4 Yes, I saw the preview sent by loan rep. Dept, preparation of satisfaction
of mortgage $300 and recording fee $200, delivery fee $20. Incredible
expensive. Do not understand why? |
b*****t
发帖数: 36 | 5 And by the way, all those fees are charged by my bank. |
n*******9
发帖数: 3244 | 6 it should be throught your bank. they are charged by the county recording
office. why they charge them? remember that we are paying their salary!
【在 b*****t 的大作中提到】
: And by the way, all those fees are charged by my bank.
|
b*****t
发帖数: 36 | 7 But I already paid my recording fees of my deed and mortgage while closing,
why should I pay the second time. Now I am paying off my mortgage in full,
why should the bank charge me for the satisfaction of mortgage. My friend
did not pay a penny about one year ago |
n*******9
发帖数: 3244 | 8 that's for then and this is for now. unless you don't want to make changes
or not to record any changes still keep your current bank as the lien holder
to give them the rights. remember that it is you who made the change and
you. your friend may not know that she/he paid. even for the so called no
cost refi, you are still paying these fees but in a different way which your
broker pay them for you while you get a higher rate to cover all the cost.
,
【在 b*****t 的大作中提到】
: But I already paid my recording fees of my deed and mortgage while closing,
: why should I pay the second time. Now I am paying off my mortgage in full,
: why should the bank charge me for the satisfaction of mortgage. My friend
: did not pay a penny about one year ago
|
i******e
发帖数: 1720 | 9 recording/documentation fee is a must since there's a document of "release
Deed of Trust" be recorded with county, and it is paid thru the bank.
But haven't heard of "satisfaction of mortgage", did you call the bank? Is
your mortgage subject to prepayment penalty? |
b*****t
发帖数: 36 | 10 Yes I did, they told me satisfaction of mortgage is the statement after I
pay off my loan, and need to be recorded before the bank sends it to state.
Unsure of prepayment penalty, I do not remember any obligation how many
years is minimal |
|
|
i******e
发帖数: 1720 | 11 I just checked my payoff statement, it only has $45 for re-conveyance (documentation) and $12 for County Recording. That's it. This is BofA and in California.
I got to say yours might be due to your bank and/or your state's loose regulations over banks' charges and fees. The only thing I could think of is to check the payoff fees/charges schedule on your bank's website or call them for the schedule. BofA posts that on its website, so no surprise for me. You would feel better knowing anyone has a mortgage with them is charged by the same amount and you did nothing wrong or it's not a mistake. It's very likely that you can do nothing about those fees.
I can't agree more that those amounts are rip-offs. You might want to keep your pay-off statement in a safe place. Just in case someone will bring-up a class action lawsuit case against the bank for over-charging years later. :) California has two many lawyers. From time to time, I receive all kinds of class action notices from the mails and did receive a few small check by doing nothing but fill-out the forms. I remember hearing people say CA is a consumer's heaven. But I feel your pain. Good luck.
.
【在 b*****t 的大作中提到】
: Yes I did, they told me satisfaction of mortgage is the statement after I
: pay off my loan, and need to be recorded before the bank sends it to state.
: Unsure of prepayment penalty, I do not remember any obligation how many
: years is minimal
|
b*****t
发帖数: 36 | 12 Thanks a lot, imjustme. |
k******o
发帖数: 3328 | 13 我看过不少客人pay off的reconveyance deed,其中根据银行都会有差别，但是还没有
看到过LZ你这么多的，感觉上是多了一点，不过每个州都不一样，我的客人都是加州的
of
【在 b*****t 的大作中提到】
: I am paying off my mortgage, and I am asked to pay fees for satisfaction of
: mortgage and recording fee about $500 total.
: One of my friend said no such charge at all. Any comment?
|
b*d
发帖数: 9308 | 14 会有payoff的Charge，但是不会有$500那么多的。
of
【在 b*****t 的大作中提到】
: I am paying off my mortgage, and I am asked to pay fees for satisfaction of
: mortgage and recording fee about $500 total.
: One of my friend said no such charge at all. Any comment?
|
b*****t
发帖数: 36 | 15 I'd called everyone I should, seems like I have to pay $500. Greedy the
first American international bank in new York, I request the explanation of
all the fees and will save as evidence. I might look for some legal help
later. Thank you all for your help. |
