by Linda from Seattle, Washington USA
Ask Kate who can lock my mortgage interest rate: Hi Kate, Can the mortgage company lock my interest rate without my permission? I'm trying to refinance my mortgage with my current lender. I sent in the documents they requested (tax returns, bank statements, etc). I didn't hear back so I contacted them to find a status.
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Linda continues... They said my refinance had been approved and gave me the interest rate. I was shocked. I never said I wanted to lock in at a specific rate.
The lender is stating that I locked in by the disclosure documents like the Uniform Residential Loan Application and the Truth in Lending. I didn't want to lock in yet and thought that's what the Lock In Agreement was for.
What do I do now so that I'm not locked in at the rate that was available when I applied for the refinance?
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