Absolutely! If you have had your home appraised and given all of the necessary documents to your loan officer then your loan officer has seriously dropped the ball. Each loan is unique but 3 months is extreme! It is safe to say 3-5 weeks is average. I hold a Loan Officer License so you know that I am not just making these things up. In case you are unaware...here are some broad strokes to help paint the picture for you. The loan officer and the lender's underwriter are duking it out. When your Loan Officer (L.O.) completes your loan package he sends it to the selected lender's underwriting department. The underwriter's job is to find reasons not to approve the loan. This is basically to protect the lender against a bad risk. He looks at the file and determines if the borrower (you) qualifies for any of his loan programs that his company (Like Countrywide) is offering. If you do, then he makes a list of stipulations that you must meet in order for the loan to go through and close. Things like income, cash reserves and good credit etc.. There are lot's of reasons for an underwriter not to approve a loan. It sounds to me like the underwriter has seen your file and your L.O. has done a really poor job of meeting the stipulations (Stips). That is why you are always needing to send him more documents and your loan has not closed. Your L.O.'s inexperience is showing. An experienced underwriter knows which companies send him files that are accurate and complete. He will favor those and skip over ones that he knows will be incomplete and a hassle to get closed. His job is to find good loans and is sometimes paid on loans closed so speed is a factor. I would advise you to get a copy of your appraisal that is done IN YOUR NAME( Which is your legal right)and start over with another company alltogether. Your L.O. has not earned his commission.
Also beware of "Yield Spread". Example: You qualify for a 5.5% rate on your loan. Your L.O. sells you on 5.75%. The lender will pay the L.O. .25% of the loan amount for closing your loan at the higher rate. This would mean an extra $375 for the L.O. to make on a $150,000 loan amount. This really adds up for L.O.'s. Look at the settlement statement closely at closing time. Things listed as "P.O.C" are things that are "Paid Outside Closing". Yield spread is one of those things. Ask your L.O. about it. Keep in mind that his legal obligation is to Disclose info......NOT to explain it. If your guy won't then find one that will. It is worth the time and effort. Hope this is helpful. Good luck.
There are many companies that claim to offer a no fee mortgage refinance. Such services are never free, it always costs something to refinance one's mortgage.
There is a myth surrounding the idea of "No Cost Refinance." The Forbes website notes that there are always costs associated when one chooses to refinance.
No. Tautology is mainly a fancy word for repeating something already stated, like something being unusual and rare.
Something unusual about swimming in the dead sea is that the salt saturation is so high, that the salt can support your body weight, so that you almost always float.
Working to figure out if a refinance is right for you is a great idea. You always want to check this kind of thing because you never know when you might be stepping right into a trap. Therefore, you need to use a mortgage refinance calculator to figure out exactly how much any particular type of refinance is going to save you. If it is not much money at all, then there may be little point to even taking the time to even get the refinance in the first place. Always keep that in mind. Get to work running the figures for yourself today.
it is because girls have too many things on their mind so if girl are waiting for something or someone, they can always think of something else
Yes, it always benefits you to refinance, if your bank isn't willing to find someone who is.
Probably the most unusual habit an emu has is its curiosity. Always on the search for something interesting to eat, and in need of aids to its digestion, the emu will ingest all sorts of unusual objects besides the usual pebbles. Emu stomachs have been found to contain nails and metal. Aborigines found they just had to lie in long grass and wave something unusual and colourful above the grass to attract a curious emu.
Purchasing a photo session is always a great and unusual gift for a baby shower. It is something that is different, creates memories, and is generally a little more expensive than the average gift.
Dogs usually listen to their owners, but at times they may be distracted by some sound or other or by something unusual that catches their eye.
waiting is always best
If you go online to a refinance agency they usually will always have a online calculator. Also you can go to your bank and speak to their finance department they should be able to help you also
Yes, there are fees to refinance a reverse mortgage. There are always fees or interest rates when getting any type of loan including refinancing your home.
this is a strange question posted above, but i will try to answer it, with a sensible answer. which is if you watch the x factor, something always unusual happens. this is especially true with the auditions stage of the x factor competition, and that there are quite a few strange auditions each year. that is when the most unusual things happen, with some of the strange auditions each year.
No, procrastinating in school does not help you do better in school. It makes you do worse in school because you are always waiting until the last minute to get something done.
Of course there is a possibility always 50% possibility but, you got to know or ask him if he is still waiting or something just saying even if people act awkward at how you ask the question you just have to be yourself in most situations except if you are portraying crime and violence of course.
A person can refinance during bankruptcy by checking ones credit rate and talking with their attorney. Refinancing is not always possible and depends on the individuals circumstance and this course of action often damages the individuals credit rate.
He wanted to always kill Candy's dog.
He wanted to always kill Candy's dog.
Refinancing a loan is a way to lower one's interest rate and monthly loan repayment, but it isn't always a good idea. One should speak to a loan officer for advice on if one should refinance.
When something is always on it is always available.
Something's Always Wrong was created in 1994.
Always Something There was created on 14-10-01.