12-29-2010, 11:39 AM
Six months and counting for Mom's loan (a refinance straight up to pay off loan on another asset entirely by consolidating on one house and still have more than 50% equity in that same house, not a loan mod). Monday Bank of America rep said they had to get a new appraisal because the other one has expired within their guidelines by just 2-3 days. She told them, go ahead, its your money not mine to do a second appraisal. She said at this point 12/29/10 -- its not going through in 2010.
Remember - perfect credit, many assets, will lower monthly expenditures, high fixed income.
This is not a loan mod where she is begging bank to redo her payments and rate. BOA called her to she if she wanted to get a refi home loan with the lower interest rates as her excellent credit rating must have popped up on their radar.
I keep telling her go to FH or BOH and drop BOA but she keeps hoping she is close. She is not much of a boat rocker.
Remember - perfect credit, many assets, will lower monthly expenditures, high fixed income.
This is not a loan mod where she is begging bank to redo her payments and rate. BOA called her to she if she wanted to get a refi home loan with the lower interest rates as her excellent credit rating must have popped up on their radar.
I keep telling her go to FH or BOH and drop BOA but she keeps hoping she is close. She is not much of a boat rocker.