Account Services charges $350.00 in administrative costs when a customer submits a refinance request for their home. This information is located on page 8 of the homeowner’s contract, where they are advised of additional costs associated with a mortgage refinance:
9. Property Taxes and FeesÂ
You promise to pay all taxes and fees (such as registration fees and personal property taxes) due on the System. If you do not pay the taxes or fees on the System when due, we may pay these obligations, but we are not required to do so. Any money we spend for taxes or fees may be added to the unpaid balance owed under this Agreement, and you agree to pay finance charges on those amounts at the annual rate described in Section 1 above (or, if applicable, at any lower rate required by applicable law). If we add amounts for taxes or fees to the unpaid balance owed under this Agreement, we may increase the dollar amount of the required monthly payments to pay the amounts added within the remaining term of this Agreement. If you refinance your mortgage, you will also be responsible for related administrative charges incurred as a result of the refinancing.
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