Posted on: 21st May, 2009 06:07 pm
we have been waiting for over 5 months for our refinance loan to close. the driveby appraisal on our house was $450k ($200k less than four years ago). we are refinancing a $125k loan with no second loan. now they want to do a full appraisal, and they told my husband the loan to values have changed and we must be no more than 30% loan to value. is that true? if so, how if anyone getting loans?
30% LTV ??? That is unbelievable. Where are you located and what type of home is it?
We are located in California and have a single family residence.
i don't know that "unbelievable" covers it, eric.
that's ridiculous that they told you the maximum ltv is 30%. you need to find yourself a lender with some sanity.
that's ridiculous that they told you the maximum ltv is 30%. you need to find yourself a lender with some sanity.
I agree with George. Find someone else. There are quite a few lenders here on this forum who can help you in California.
I think they are really not interested to give you the loan, and bargaining on 30%!!! Unfortunately, you are also losing your time.