Just completed a home refinance through E-Loan. It was a very smooth transaction which was delayed a bit due to 2 hurricanes. Completed the signing in about 4 weeks. But, all in all, everything went almost too smooth. Was a very pleasant experience to do this refinancing on- line. The people handling the refinancing were easy to work with, very friendly & eager to help. Got quick responses via e-mail anytime a question would pop into my mind. Would highly recommend to anyone. Now after the signing (closing), comes the 72 hour (3 day) period in which the borrower can change their mind. I have thoroughly looked everything over & it all looks legit. Has anyone out there been through a home loan or refinance through e-loan? Was thinking about getting a lawyer to look over the documents but don't want to waste a couple hundred dollars needlessly. I know having the peace of mind would be worth it, just don't want to throw money away. How about it anyone? (real estate lawyers) any free advice?

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Posted by novabill

Crossville, TN

Member since Sep 2005

10724 posts

Posted on 9/27/08 at 12:20 pm to tigerballz

We do quite a bit of business online, where we never actuall see the client, all is done via internet and telephone.

The paperwork should be standerd fannie mae docs.

Things to look at
Note rate, term (how long you paying it back), Payment and do you have a pre-payment penalty. Also make sure the payoff listed on the HUD1 is accurate. You signed a document stating you would make up any diffirences on the payoff.

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Posted by 756

Member since Sep 2004

15757 posts

Posted on 9/27/08 at 4:43 pm to tigerballz

Don't be foolish- your house is the biggest investment you have and you are not willing to spend a couple of hundred bucks to insure it is all legal???????????

This kind of irresponsibility is why we have a mortgage crisis!

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Posted by skylane

Polebridge Montana

Member since Oct 2005

2583 posts

Posted on 9/27/08 at 5:24 pm to tigerballz

I've used them for an auto loan before... no problems at all.

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Posted by novabill

Crossville, TN

Member since Sep 2005

10724 posts

Posted on 9/27/08 at 5:49 pm to 756

756, do you really understand the mortgage crisis of which you speak, I think not.

If he got a Fannie Mae 30 yr fixed, basic loan, the there is nothing wrong with the loan.

Once he verifys the terms are what he was expecting in terms of the loan amount, rate, payment ect.. then it is all good.

The problem comes in with adjustment, pre-payment penalties being snuck in, in order for them to make more money.

But the legal documents, note, mortgage are standard documents that the lender will not change anyway.

But by all means call Lane Bennett at Title2Land and get him to look over the documents for you. pay him a couple of bills and he will tell you the same thing you are getting here for free.

BTW: Why did you not use someone local?

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