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I applied for and was approved for a FHA mortgage through Philadelphia Mortgage Advisors and had a closing date of XX/XX/2020. I was locked in at an interest rate of 3.175 %. Due to an issue at settlement, our closing had to be rescheduled to XX/XX/2020. We were still locked in to the rate and were scheduled to close. Three days before settlement, I received my Closing Disclosure with the wrong interest rate of 4.125 %. I immediately alerted my mortgage advisor. She insisted that I was wrong, that the interest rate was never changed and that if I did not sign the CD that day, I would not close and would lose the locked in interest rate. This was upsetting because my family and I were already in the new property. On the original settlement day, my own home was sold before I knew about the U & O issues. My family was essentially homeless. So, My husband and I signed the loan with the wrong date out of fear of not being able to purchase the home at all. Immediately after settlement, I contacted the mortgage company and the President of the company came to my home and we signed new loan documents. I mentioned to him that since the interest rates were wrong, I had overpaid and had to be due a refund. He agreed and said he would send that out.
That never happened. I never received a breakdown of an overpayment or a refund from this company.
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