Originally Posted by janetdoe

The airline has to allow free 24-hour cancel per DOT, but Cheapo can charge a service fee to perform the cancellation. If you make enough noise and/or if it is really an error fare, then you can usually get the service fee waived.

There are some slightly more reputable OTAs in the ~$350 range, you'll have a better chance of keeping the rez and/or canceling for free with them.