I'm investigating refinancing my coop with a different mortgage company than the one I now have. (All I want is to lower my interest rate which is now 4.375%). The new broker said I had to have the coop questionnaire filled out by the Management company, but mgmt. wants to charge me $150. to do that.
I'd like to know how common that is, how common that $150 fee is, and if there's any way around it.
Because my building is in poor shape, with many (expensive) violations, I'm not sure that I'll be able to refi anyway, so I fear I'll be throwing away that $150. without being able to recoop it later (with a lower rate).
Knowledgeable replies, rather than opinions, are greatly appreciated. Thanks!
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