Posted on: 16th Nov, 2010 04:47 am
have been trying to refinance my home with boa since clear back in june, i have sent them everything they have asked for, its now past 120 days and it went from we are approved to we need to get an appraisal and if you don't meet x amount we can not help you, i am just frustrated as i am unsure what to do, we have gotten the appraisal and it came up short by 2000 and now we are sitting waiting for denial or approval but i find it strange that it has taken so darn long. and it went from we don't need an appraisal to we do then the rate has changed a couple times (mostly lower so not complaining to much there). so if we are denied i feel i have wasted my time and not sure if there is an appeal or someone i can take the complaint too....
Hi Guest,
Unless you have equity in your property, you won't be able to qualify for a refinance. As your appraisal states a lower amount, the lender will not be ready to refinance your existing mortgage. You can contact an attorney and check out if you can take any steps against your lender.
Unless you have equity in your property, you won't be able to qualify for a refinance. As your appraisal states a lower amount, the lender will not be ready to refinance your existing mortgage. You can contact an attorney and check out if you can take any steps against your lender.
BOA is just awful. There are endless borrower complaints.
But they told you your apprasial was short by $2000. So what are you going to do about that?
In order to close, you will need extra cash out of your pocket. If you have not showed the underwriter proof that you have those funds, you will not close.
But they told you your apprasial was short by $2000. So what are you going to do about that?
In order to close, you will need extra cash out of your pocket. If you have not showed the underwriter proof that you have those funds, you will not close.