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Old 09-03-2008, 12:24 PM
Location: Las Vegas
6 posts, read 11,641 times
Reputation: 10


Taking the safe road is always the best, especially in this market. Depending on the structure and obstacles in your loan, you cannot be sure of the closing date. Especially considering that you were already 'supposed' to close once and now that is rescheduled, more than likely due to an underwriting guideline they have to review.

Take the safe route, and continue making your payments until your loan is closed. If you make an unnecessary payment, it will be credited back to you. Granted the lender will probably not pull another credit report before the close depending on the origination date of the loan. BUT! The last thing you want right now is this refi to not go through.
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Old 09-03-2008, 12:52 PM
Location: Boca Raton, FL
4,851 posts, read 8,318,483 times
Reputation: 5478
Smile Payment due

Originally Posted by gordon'sdream View Post
hello and thank you to all that are able to help.

I have been in the process of refinancing my home for the last two or three weeks now, and it seems that I will not be able to close this month as planned. Now I will be due another mortgage payment in a few days and I had not planned for.

I called and asked my loan officer and he told me that the title company reserves the right to pull a new credit report before closing, but that since my credit will still be valid for another 30 days they won't need to do so. (costs them more $$) Is this really true?

Should I be worried about the payment due? I've never refinaced before so all of this is new to me. Could it affect me getting my new loan?
If it will show you over 30 days, pay the mortgage.
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