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I have received a Demand for Payment Notice ( Attachment # 1 ) dated XX/XX/2016 for a {$990.00} Rate Lock Cancellation Fee which is based the Rate Lock Confirmation Acknowledgement and Agreement and {$420.00} for a Appraisal fee.
I have abided the terms of the mentioned agreement and do not owe these sums. When I called to try and resolve this demand notice, the American Heritage Capital representative, XXXX XXXX XXXX, refused to acknowledge the requirements of the agreement. American Heritage Capital LP Rate Lock Confirmation Acknowledgement and Agreement states " in an effort to recoup any cost associated in processing and underwriting your loan, a {$990.00} Lock Cancellation Fee will be imposed if you withdraw or cancel your loan application and subsequently close with another lender within 90 days of the original lock date on the same property ''. ( Pg XXXX of Attachment # 1 ) This agreement was signed on XX/XX/2016 which means the 90 day period ended on XX/XX/2016.
American Heritage Capital LP has deemed that the rate lock was cancelled as stated in the Demand for Payment Notice. As I offered to send to XXXX XXXX, please accept this signed letter as my attesting that the same property was not closed on with another lender within the specified 90 days. Attachment # 2 is a copy of my current Mortgage Loan Statement just paid on XX/XX/2016 providing evidence that no closing occurred. Since the Rate Lock Confirmation Acknowledgement and Agreement specifies that any costs associated in the processing and underwriting your loan are included in the {$990.00} USD Lock Cancellation fee, there are no grounds for American Heritage Capital LP to request any other costs incurred including the {$420.00} Appraisal Fee.
As mentioned above, American Heritage Capital LP Rate Lock Confirmation Acknowledgement and Agreement states that a {$990.00} fee will be imposed if I withdraw or cancel AND subsequently close with another lender within 90 days of the lock, and I did not close with another within 90 days of the lock. Therefore, I do not owe American Heritage Capital LP any costs. Please help me obtain written confirmation from American Heritage Capital LP that this matter has been clarified and is resolved.
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