Posted on 07/29/2012 9:09:44 AM PDT by dagogo redux
Yes, we are in the middle of a re-finance. They keep asking for more info. First, they wanted the tax forms, now they want all the attachments. Then they wanted to know why we had so many addresses in the past 5 years. (a work related move, then temporarily stayed with my mother during the move). Now, the representative is going on vacation! It is with CITI.
Credit ratings approx 800 for both of us has NOT greased the path. :(
Refied our place on Cape Cod (MA) through the CC5 Cents Bank and start to finish was under 3 weeks.
Banks used to hired high school graduates and then educate their own. The result was a personality type that loved numbers, perfection, and dual-control while handling other people’s money.
In the 80’s, banks started hiring MBAs. MBA’s invented of the problems we have now.
Sorry to hear.
Pick another bank. Bankers want to refi.
BOA along with CITI were forced by the DOJ into an agreement to make all the loans they illegally foreclosed on using a robo-signer affordable by their borrowers.
This refinancing was to include reductions of interest rate, forgiveness of some debt, writing off certain additional fees of the foreclosure and extending the length of the loans.
I have gone through the endless requests for new docs, the lost docs and all the other hoops that Countrywide and BOA forced us to jump through.
One must remember that Countrywide was given over $45,000,000,000.00 to rewrite these loans and then BOA was given several billion more to make these loans affordable.
As part of the recent DOJ action, BOA has now been given several Billion again to refinance these loans.
It is because you are an independant contractor. My husband was making nice six figures in the early eighties when credit was tight and he couldnt buy or finance eaither because of IC status. in the 90’s banks loved our IC status because we had many streams of income.
I have a credit rating that makes me a minor goddess in banking circles.
I had a heck of a time getting a TD BANK loan to close last year. They just kept balling it up.
However, they kept my loan, as well as processing it. It was in the contract.
Many other friends closed and their loans are immediately freddicmacked or fanniemayed.
If God is good to me, I will be paid off in a year.
I’m sure God will be good to you.
A high credit rating indicates a good character.
What’s worse is that B of A quickly sold my loan to the Feds. I pay B of A but the govt owns it. At least I went from a 30 year to a 15 year, to pay it off very fast.
Yeah I know. The joke is if I was an employee I could be fired with no notice. But my contract requires a 90 day notice by either party, so my income is MORE secure.
A high credit rating indicates a good character.
_____________________________
Now if I can only have someone pay me 34K to bask in my good character!
Get a new bank. Chase is sh*t in the first place.
We just recently re-fi’d and all went perfectly well. Closed in two weeks. If rates keep going down as fast as they have been we’ll ref-fi again probably early next year. We used Megastar bank. Odd sounding place but the lady that does our mortgages is incredible and the bank has been perfect. I couldn’t be happier with them, so there is no reason to put up with incompetence in banking from the likes of Chase. Funny, ‘Chase’, and you have been ‘chasing’ them to close that mortgage.
P.S. If you are currently with Chase they have zero desire to re-fi you to a lower rate. They would rather take the chance of you going elsewhere than see that loan go to a lower rate.
Refinanced with Cash Call, twice.
Easiest Refinancing I have ever done.
If my Wife didn’t get laid off, I would be doing another one with them. I’m at 4.125% APR 30 Year fixed and they just offered me 3.875% APR. Every Loan was a no cost Loan.
Cash Call is down to 3.750% APR, no cost 30 year loan.
They don’t even charge for the Appraisal.
If the Appraised Value is too low, you just walk away.
Nobody else does this, period.
“Now if I can only have someone pay me 34K to bask in my good character!”
What’s the significance of 34k? Odd number?
New car?
I just did one with Churchill Mortgage less than 30 days and I was done.
Quick and easy.
I think I'm being had by the mortgage lender. He says he cut his fee by $1955, so I should thank him.
The house selling for 305K suddenly has a 317K price tag ( He said it was for the sake of the government? ) What did you pay in your closing costs? What did that include? Thanks, I need to know what to do in the AM tomorrow. Thanks everyone!
see my post 59
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