What are my rights when it comes to trying to refinance my home?
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I am trying to refinance my home loan and our lender doesn't seem to know what is going on. This process started in Nov. 2007 when I started the process. I called last month because I hadn't heard anything and the man had told me that they had everything and it was still in review. So last Weds. I get a letter in the mail stating request for more info dated march 6 and that I had ten days to get info in. I called the next day to make sure exactly what I needed to send in since I had already been told that they had everything and was told that the request was denied on the March 6 and I told her about my letter and she told me after being on hold for 20 mins. that they would extend it and there was a mix up and my file will be reviewed by a supervisor. I faxed what they needed and called to make sure they recieved it, and was told again that my request was denied and no supervisor had looked at it. Again being put on hold was told sorry again and that my case be reviewed again.
What are my rights when it comes to trying to refinance my home?1. Find another lender. IMMEDIATELY!
The one you are dealing with and the loan officer clearly are 100% incompetent.
2. It NEVER takes more than 3 business days to underwrite a loan once you have everything in...and most of the time it's 24 hours...I used to do it all day, every day.
3. I actually suspect that something is wrong with your credit (forgive me if I'm wrong) if that is the case, then the loan officer has been scrambling to find a loan program that you can fit into.
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