-
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
-
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
-
Thank you for your detailed response! I'm keeping my fingers crossed that we will be closing within the next week or two in hopes that my own personal refinance roller coaster will soon be over and have a happy ending. It's been a rough ride but we put some pressure on our current lender and LO that we were considering working with a local Credit
-
Hi Doug, Has your Countrywide loan officer given you a reason for the delay? I'm working with the same LO who did my original loan. We began at the end of June with this application and his estimate has always been 60 days at the most and he's been hoping for a 30 day and close at the end of this month but we've hit a bump in the road. It
-
Sorry Bob (not too sorry) that my threads seem to bother you. Just trying to get as well informed as possible on topics that I am not familiar with. I'm not looking for a date since I am happily married.
-
It certainly depends on your own personal situation, but there are much better rates now. I'm also from San Jose and refinancing right now from my current 30 yr 6.327% to a 15 yr 4.875% One situation is that we've had to deal with is San Jose properties have taken a hard hit in property value and the home we just bought last year has dropped
-
So did the rate my LO offered me cost my lender (Countrywide/BofA) money? Unless rates drop to 4.375 0 points on retail rate sheets I shouldn't expect him to grab me a lower rate than what I currently have since it may have cost him initially to get me the rate they offered? He mentioned that the rates must drop .5 % to get it a lower rate without
-
Just need some clarification regarding a concession? When I told my current lender we were considering refinancing with another lender at 5 % 0 points he replied that he could offer us 4.875 0 points. I contacted Countrywide/BofA that day and was told 4.875 was with a 1 point charge. I knew my LO worked some magic to get us that rate. In a recent conversation
-
Well after a call and another email my LO replied! He reassured me that this is just a rough estimate and a standard formula is used to calculate the impound account. He also mentioned that he's convinced that we will be happy with what they will do for us including a discount on title insurance will be given due to same lender, same title company
-
We don't have an existing impound account, we did initially to lock a better rate but we were able to cancel it after a few months unlike this situation since our refi LTV is 86% our Impound account is required. So we are starting a new impound account since we no longer have one in place.