Is mortgage broker's reimbursement good
enough? I have entered into the 8th month of my refi and 203k (home improvement loan). Somehow I fell through the cracks despite my efforts. I was very disappointed that the loan didn't close yet again at the end of March. The broker assured me we will close in April and has offered to cover the mortgage interest for that month on my current loan. I am not very savvy when it comes to real estate finances and for some reason this just does not seem like fair compensation for all of the set backs and additional interest I have been paying on my current loan. Also, I had to cover the contractor's deposits on my credit card, which the interest rate on that has reset and I am unable to transfer the balances to a new credit card at a lower rate while the refi is dragging on, so there is the interest on the credit card accumulating as well. Would you be satisfied with his offer to cover the mortgage interest for April or not? If not, what do you think is a fair compensation that I should ask for?
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