mortgage refinance pain and misery

[javasaurus]

Finally heard from the bank where we're doing our refinance.

The bank manager who took the application (5 weeks ago) called to follow up. "Follow up? On what?" Apparently the appraisal (which was done 4 weeks aqo) came in many thousands less than expected, so we have a choice of refinancing a lesser amount or paying PMI. What had we chosen?

I explained that this is the first we had heard of this, that the loan officer had not called us nor e-mailed us nor sent us smoke signals. I asked how much the PMI would be, and said I'd call back after talking to blueeowyn. I called back 10 minutes later, and the banker is still waiting on a call back from the loan officer. She'll have the loan officer call or e-mail me at work. Well, it's 6:50 pm, no phone call, no e-mail. They need a decision from me before the loan can go forward. They need a decision NOW. But they won't contact me with a simple piece of needed information.

Comments

[wilhelmina-d.livejournal.com]

Ugh. If it makes you feel any better (it likely won't), I'm still at work right now and taking a few minutes off to read LJ since it will likely be midnight before I can get home. We're all of us working crazy hours to keep up.

[blueeowyn.livejournal.com]

I know that some are working crazy hours, I know that the main officer is dealing with a bunch of branches. However, following up on something never asked is not acceptable ... neither is being pushy for an answer RIGHT NOW to a fairly complex question because we never got back to them on the fictitious thing is not good. More in my LJ soon.

[wilhelmina-d.livejournal.com]

Not arguing that. Didn't say I was. I was just trying to explain that pretty much the whole mortgage industry (what's left of us anyway) are reeling from the unexpected volume. That's all.