Comments on: Mortgage Refinance Completed http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html like a friend telling you about money ... Thu, 19 Nov 2009 19:44:17 -0600 http://wordpress.org/?v=2.8 hourly 1 By: TFB http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html/comment-page-1#comment-2191 TFB Fri, 05 Jun 2009 06:17:13 +0000 http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html#comment-2191 @HP - Shawn <a href="http://thefinancebuff.com/2009/05/signed-mortgage-refinance-documents.html#comment-2137" rel="nofollow">shared his experience</a> in a comment to the previous post. He didn't have to do an appraisal. It was a refi with a different lender. @HP – Shawn shared his experience in a comment to the previous post. He didn't have to do an appraisal. It was a refi with a different lender.

]]> By: HP http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html/comment-page-1#comment-2190 HP Fri, 05 Jun 2009 05:44:14 +0000 http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html#comment-2190 I doubt it was the value that forced the appraisal. I think all mortgages are requiring them as the lack of appraisals and pressuring appraisers to "hit the number" was one of the factors of the whole real estate bubble. Banks are now swinging the other way and being ultra cautious on every detail. Probably the only way to avoid an appraisal right now is to refi through your current lender. They might not require it since the loan would be staying within the same institution (assuming they aren't going to resell it). I doubt it was the value that forced the appraisal. I think all mortgages are requiring them as the lack of appraisals and pressuring appraisers to "hit the number" was one of the factors of the whole real estate bubble. Banks are now swinging the other way and being ultra cautious on every detail. Probably the only way to avoid an appraisal right now is to refi through your current lender. They might not require it since the loan would be staying within the same institution (assuming they aren't going to resell it).

]]> By: Raghu http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html/comment-page-1#comment-2186 Raghu Thu, 04 Jun 2009 18:43:29 +0000 http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html#comment-2186 I'm going to close the loan at couple of hours. Since, I'm closing at start of the month, I have to pay the interest for rest of the month. But, it's going to save around 800 per year. I guess it will be a while before I can get to refinance again4.5% no cost ( following TFB 0.25% ladder) I'm going to close the loan at couple of hours. Since, I'm closing at start of the month, I have to pay the interest for rest of the month. But, it's going to save around 800 per year.

I guess it will be a while before I can get to refinance again4.5% no cost ( following TFB 0.25% ladder)

]]> By: Single Guy Money http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html/comment-page-1#comment-2181 Single Guy Money Thu, 04 Jun 2009 17:22:35 +0000 http://thefinancebuff.com/2009/06/mortgage-refinance-completed.html#comment-2181 I am in the process of trying to refinance my mortgage. Like you, the appraisal is holding up the entire process. I am in the process of trying to refinance my mortgage. Like you, the appraisal is holding up the entire process.

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