Open Question: Shady Banks/Mortgages...what recourse?

[Administrator]

I've had great luck with a 1 yr ARM's - it's served me very well for the last several years - I'm with a bank that doesn't sell your paper which is also nice - I've refinanced in the middle of the year term twice with no problems - At $250 total closing costs, I make up the money within 2 mos. I only refinance when the rate is a full point or more less...they are now putting me off and "refusing" to allow me to refinance - the only reason given is "they don't want to, and the 1 yr ARM's are only for "new" money" This is a load of crap and I know it - NOWHERE in my contract does it say that I can't refinance either to another 1 yr ARM or a 30 yr fixed at no charge - ANY time I want - they are crossing their arms and holding their breath and refusing. I'm not going to let them get away with it that's for sure - what is the best course of action? My calls and personal visits are obviously not working. Is there anything else I can do short of a lawyer?? Thanks!


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