Posted on: 23rd Jan, 2009 12:06 pm
Decided to refi my first mortgage and got a good rate, now it takes forever to get a subordination agreed from the second lien
(the loan is from original purchase and house actually appreciated since then). Never late on any payment and excellent credit.
Is there any way to speed up getting second subordinated as I might loose a rate lock because of that.
(the loan is from original purchase and house actually appreciated since then). Never late on any payment and excellent credit.
Is there any way to speed up getting second subordinated as I might loose a rate lock because of that.
Hi Guest
Has the second lender given you any reason as to why the subordination is taking so much time? I think the best way is to negotiate with the lender and resolve the issue.
Thanks.
Has the second lender given you any reason as to why the subordination is taking so much time? I think the best way is to negotiate with the lender and resolve the issue.
Thanks.
No reason - they are just swamped with applications.
Hi Guest,
I think you should follow Niicss's advice and negotiate with the lender. Talk to their customer service department ask them about the subordination. I hope a bit of negotiation will help you in resolving the issue.
Thanks,
Jerry
I think you should follow Niicss's advice and negotiate with the lender. Talk to their customer service department ask them about the subordination. I hope a bit of negotiation will help you in resolving the issue.
Thanks,
Jerry