Maybe I can put it in simpler terms. Mortgage company is a lender. Its a company such as Wells Fargo Bank or Bank of America. Wells Fargo loans you the necessary money to buy the house, so you do buy it.

And some people borrow money to buy a business or a cattle ranch or a farm or a vacant lot, things like that.

Let me break this down for you. When you refinance the loan, the finance company needs to find someone to buy the loan. You are NOT responsible for correcting their poor business judgment.

If you closed on the home, both YOU and THE FINANCE COMPANY signed a legally binding document. In turn, the refinance company is responsible for servicing the loan until they can find a suitable buyer of your mortgage.

Next, contact the Attorney General of the state in which the refinance company is domiciled and report this immediately. The Attorney General will contact the refinance company on your behalf and demand that they will respond to you and him usually within 30 days. COMPTROLLER OF CURRENCY for the state in which the refinance company is domiciled. Google to get the address. They will assign an investigator, who will get down to the truth of the matter. And lastly, do NOT sign any more documents. They have screwed up big time and they want you to sign more documents to cover up their errors. HUD office and they can tell you what to do as well. They can tell you who to contact. Wells Fargo Home Mortgage and Wachovia Mortgage. Great rates, minimal paperwork, intelligent banking staff. 1: Is there a pre payment penalty, if there is you do not want that loan. So the time that you would like to spend paying on the home may be lessened if you plan on staying there for a while. Taxes and insurance all together in one payment a month.

They have great rates and a great customer support team. We are working with Country Wide right now and are very pleased with them. All the do is add in the down payment to the final payment cost. They are the best mortgage companies out there for this type of thing.

Oh and they offer FHA and USDA loans for housing.