Why am I charged a full month of interest when my refinancing closes instead of a partial month of interest?2018-04-25T20:18:33+00:00

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When your mortgage closes, it can take up to 7-10 days for the transaction to be recorded. During that time interest will still be accruing on your old loan on the principal balance. One of the closings has occurred there is also a three-day waiting period called the “Right of Rescission” which gives you the right to change your mind and cancel the loan within that three-business-day window.

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