i need help

island_sweet2000 · Joined: 09 Feb 2008 Posts: 1 1.30 Dollars($)

ive refiance my home and the lender that i went through said everything was going good on my refiance. i even paid for my apprisal. than one day they call me and tell me that they needed more and more document than they trun me down. its like im being scam on this mortagage refiance.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi,

Welcome to the forum.

What I have understood from your post is that your lender agreed for the refinance and all of a sudden he refused you. But have you asked him the reason? Have a talk with him and try to know the reason behind it.

If you cannot refinance with your present lender then you can shop a bit for lenders and try to refinance your mortgage with some other lenders.

Best of luck,
Larry

michelle · Posted: Sat Feb 09, 2008 1:11 pm Post subject:

Welcome to the forum island sweet2000,

As Larry indicated, I think you should ask your lender for a detailed explanation of why your loan is being declined.

Had you already provided all of your documentation to the lender before he ordered the appraisal?

Did you receive any type of commitment that showed the conditions you needed to satisfy in order for the loan to proceed?

Did the appraisal come in at a much lower amount than you anticipated?

If you could please provide a few more details we will be able to answer your question much more effectively. And also as Larry suggested, you might want to consult another mortgage professional to see if they might be able to help you.

Please let us know what other questions we may be able to answer for you.

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