Posted on: 10th Dec, 2009 01:37 pm
Our mortagage broker called to day (the underwriting was completed and approved 3 days ago) and stated we had to pay for a new apprasial to close the refi. Is this Texas law or are we being scammed?
hi lindamwood,
i don't think there's any such law in texas which requires you to go for a refinance in order to close the refinance. i would suggest you to contact the mortgage broker and clarify as to why he requires a new appraisal when the underwriting is complete and approved. he will be the best person to let yoy know the reasons.
i don't think there's any such law in texas which requires you to go for a refinance in order to close the refinance. i would suggest you to contact the mortgage broker and clarify as to why he requires a new appraisal when the underwriting is complete and approved. he will be the best person to let yoy know the reasons.
slight error there, adonis; though i know you meant "appraisal."
i don't know texas law, either, but it only makes sense that a home would need to be appraised in order to determine ultimate qualification for a mortgage, be it a refinance or a new purchase.
i don't know texas law, either, but it only makes sense that a home would need to be appraised in order to determine ultimate qualification for a mortgage, be it a refinance or a new purchase.
