I applied for a mortgage in April of 2010. I cancelled the mortgage because my house came in appraised lower than what is was worth (what a suprise!). I just received a bill in the mail for $120.00 cancellation fee. I was told that I signed a paper stating that there was a fee in case I cancelled. I don't remember signing it and maybe I should have paid attention more to what I was signing. Now I am out $300.00 for an appraisal fee and $120.00 for a cancellation fee. I do not have this kind of money just to give away. It is a shame that consumers in these economic times are taken such advantage of. I am a single mother and have a mortgage payment. This $120.00 is one of my grocery bills.