Answers
I was asked to make a good faith deposit to lock in a mortgage rate and gave him my credit card number.?
He said If I changed my mind in the next three days there would be no charge on card. The last two days I haven't been able to get ahold of him and have left numerous messages on his voicemail. I was to sign documents electronically and noticed that it said my credit card would be pre-approved for $500 after i signed it, but i never signed it, but last time i talked to the lender he made it sound like I was locked in and if i backed out i would be out five hundy. Is this just a scare tactic or would i be out $500 if i back out ? Needless to say I will not be going thru them to get refinanced no matter what the outcome. They are also my current mortgage holders.
Best Answer:
I have purchased several homes. When I was approved for my loan I was locked in till closing. I ask for a letter to that fact. NEVER did I have to give anyone any money.
Answers:
If you are doing this mortgage online, then my suggestion would be HECK NO!
"He" knows just as well as you know that despite his best efforts to scam you (and this scenario sounds like a scam) that because you paid money with a credit card you can always refute the payment with your credit card company to not be charged. This sleazy move is nothing but a scare tactic that makes the buyer (you) feel locked in when you aren't.