We are so close to signing and closing our refinance after what will be 60 days Thursday since we locked our rate.   We had an issue with our GFE because the sizable amount that was calculated for the impound account.  We've owned our home for 1 year and yet to see a property tax bill for the accurate assessed value. The County has been extremely slow in this regard and even though last December they sent us a document stating the new assessed value which was our purchase price and 200k less than the previous value of the home they never resent a tax bill.  We knowingly overpay and only this last June did we receive the refunds for the overpayment.  Now when it comes to calculating our new impound account because we are at 86% LTV and the impound account is now required the underwriter is basing the calculation on the previous tax bill which again is not even our purchase price.  We've shown proof that the County has reassessed our home and even refunded us and after days of our LO disputing this with the loan specialist they agreed to a more accurate estimate.  On Thursday of this last week a woman from the title company calls me to schedule the signing and says she will be emailing me the final settlement statement.  I look over the final settlement statement and it all looks to be accurate but then 10 minutes later I receive another email from her and it says oh I am sorry this is the new settlement statement I have documentation here that says I must have a higher impound balance and there was the same amount amount that we disputed on the GFE and they had agreed to re-estimate but they have since changed loan specialists that was working on our file.

Our LO is now going to see if they can waive the impound account completely.  If that doesn't go through than I really think this refinance will quite delayed because with the higher impound accounts it brings our balance to an amount that is above our stated assets.  I'm also curious to know what will happen if we go over the 60 day locked rate even though I have heard BofA guarantees their locks? Have any of you been successful in waiving an impound account even above 80% LTV?

Thanks for reading! I really needed to vent!

Good Luck with Bank of America.  I just had about 6 very good Loan Officers leave B of A because of issues like this.

Well I have to admit my previous Countrywide now BofA LO has really proven to be great and has worked towards solving our problems.  I just got an email from him this afternoon saying that with recent changes to the Making Homes Affordable program Impound accounts can be waived.  He's pushing for the underwriter to take care of this quickly and hoping to sign by tomorrow to have an end of month closing! I am so happy and can't wait to celebrate when this Refi is over and done with!