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Old 04-29-2015, 07:04 AM
 
62 posts, read 77,531 times
Reputation: 28

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We started refinance in May and it didn't completed yet. There was no delay from side. I always promt in providing any details/documents from my side.

The appraisar took a month to complete his report. When I asked multiple times the reason he said was our sales manager was not responding. So I have to request my sales manager and he did it immediately. I wish they should have asked me instead if just waiting

Now we can't close the loan on time, the bank saying I need to pay the lock extension fee. I'm already frustated with thier slow process and surprised to see they asking for fee. I understand they don't have control over appraiser but I din't too. And they choose the appraiser.

Can someone help me understand my options are. Now the interest rates went up little bit and I can't get same rate. Looks like its a scam they do? Please help.
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Old 04-29-2015, 12:22 PM
 
2,685 posts, read 4,217,603 times
Reputation: 2264
Quote:
Originally Posted by vraj View Post
We started refinance in May and it didn't completed yet. There was no delay from side. I always promt in providing any details/documents from my side.

The appraisar took a month to complete his report. When I asked multiple times the reason he said was our sales manager was not responding. So I have to request my sales manager and he did it immediately. I wish they should have asked me instead if just waiting

Now we can't close the loan on time, the bank saying I need to pay the lock extension fee. I'm already frustated with thier slow process and surprised to see they asking for fee. I understand they don't have control over appraiser but I din't too. And they choose the appraiser.

Can someone help me understand my options are. Now the interest rates went up little bit and I can't get same rate. Looks like its a scam they do? Please help.
11 month ago?
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Old 04-29-2015, 01:35 PM
 
Location: Somewhere in USA
537 posts, read 453,369 times
Reputation: 467
Seems like you're dealing with bad lenders. It's been almost a year now and you still waiting from them? Take control of your situation and move on with a new lender. Rate is still low and you can lock in with hundreds of other lenders within your area or thousands across the country. You do NOT have to rely on one single lender for the purpose of refinancing. Try big banks, or better yet, Quicken Loans has the best processes in place for this. If you're afraid of losing the deposits that you put in to lock the rate with this lender you're trying to seal a rate with, then don't let that holding you up. consider it a lesson learned and move on with trust worthy ones.

good luck
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Old 04-29-2015, 02:33 PM
 
62 posts, read 77,531 times
Reputation: 28
Quote:
Originally Posted by Pragmaticus View Post
11 month ago?
I apologize. Its not May. Its March 2015 !!! I'll edit my post if I can.
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Old 04-29-2015, 02:35 PM
 
62 posts, read 77,531 times
Reputation: 28
Quote:
Originally Posted by ameridreamNoT View Post
I apologize. Its not May. Its March 2015 !
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