Yeah, probably no surprise there.
We've been trying to refinance our house for two months now. Paperwork all submitted, credit reports ran, things all lined up the way they should be. But for two months our appraisal has been held up by one tiny detail.
Fannie Mae says our house is in another city.
This should be an easy thing to fix, right? Our original loan documents, appraisal, and deed all show our home in the correct city. All county documents for our house show us in the correct city. But somehow, somewhere, Fannie Mae got their records confused. I could see how this could possibly happen as our current zip code covers two different cities. And we are about a block away from the city limit.
But no matter what documentation we provide or how many times the mortgage broker calls, we are sitting here 8 weeks later with nothing to show for it. Eight freaking weeks! What the hell?
So maybe by March we will have this mess done. I am so annoyed right now it's not even funny. I know it's not the mortgage guy's fault but at this point I want to throw in the towel on it. Fannie Mae is the reason that we've not been able to get a principle reduction or refinance in the past. I freaking hate them.
2 comments:
I'm a mortgage lender so I'm going to give you my two cents. Your lender needs to get this fixed. If it is the city on your new appraisal, your lender can send the documentation to the appraiser to get it fixed. The title work should reflect the correct address. If it is something with Fannie Mae's records, your lender needs to get it changed with them. Your lender should have the power to contact them directly to get results. As the homeowner, this shouldn't really be your problem. Your lender needs to rake charge of the situation and get it fixed.
This is just my two cents. Every state is different and I don't do business in your state but Fannie Mae guidelines are the same across the board.
If I can be an additional resource for you, let me know. Good luck.
Thanks, ND :) My DH knows the mortgage guy well and he said he has been calling Fannie Mae daily to get this fixed. The mortgage guy said he's never seen this problem take so long before and does not know what's wrong on Fannie Mae's end. There was some reason that Fannie Mae was holding up the appraisal, even though it's not a FM loan (??). I don't know, really. I just know I am sick of it already.
Post a Comment