Overview: Chicago Title did not get my payoffs from a loan refinance to the lenders until a week after my new loan started and the 3 day rescinding period was up. This cost me approximately $250 in additional interest. Four phone messages and a fax went unreturned.

The overview pretty much says it all. Payoffs from the refi should have been sent on December 17, but were not received by the previous lenders until December 30 and 31st. During this time I was paying double interest, both on the old and new loans. In fact had the payments not gone through for another 2 days, I would have had an extra unexpected automatic mortgage withdrawel, which may have caused BIG problems.

I attempted to contact them many times but received no response. I contacted my state insurance board, and unfortunately there is no statute covering when they have to send them in. Legally they could wait for weeks or longer! So the only recourse is to publish pages like this one to warn others about their poor service.

Just some advice I would give to any homeowners: Do not buy or refinance around major holidays, and also when property taxes are due. I have gone through two refinances, and both have had problems because of those reasons.

Would you like to add additional information with regards to this company, product, or service? Send me an e-mail. Your name and/or comments will not be published or released unless you give consent.

Back to Opinions Menu