What are Junk Fees?
How Do Junk Fees Work?
Let's say John and Jane Doe buy a house and receive the Truth in Lending Act statement at closing. Although they already agreed to pay a one-point origination fee and received a Good Faith Estimate of closing costs, the closing statements on the actual closing day include junk fees such as $100 for a messenger fee, $200 for a filing fee, and $150 for "administrative fees."
Why Do Junk Fees Matter?
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