the red tape. We received the GFE. But have yet to have the appraisal completed in which we paid upfront. Also, we have to stay with our current mortgage holder because we do not have enough equity to go elsewhere or I would of. The company is dragging their feet to refinance us under Freddie Mac up to 105% of what is owed and what our house is worth. We refinanced our previous home years ago within 3 weeks we were done. What action should I take? Any help would be appreciated!
Apparently, as of July last year, Stafford loans are given through the PA Dept of EDU (PDE) rather than private lenders so all the red tape is processed automatically once the school tells PDE a student will be taking out loans. My girlfriend’s university signed her up for two (2) Stafford loans without ever contacting her to see if she wanted a loan! Is this legal? Should we contact a lawyer?
We have been working on closing a deal on purchasing a home, but I have had some communication difficulties with the mortgage broker. We started the process on June 2 and set a June 30 closing date. The Real Estate broker called today and said the mortgage broker was just sending the red tape to the underwriter today or tomorrow. Will we still be able to close in 8 days?
Can’t find red tape from original transaction. That is why I am asking how to to get a copy. If I had the red tape I would not be asking how!
Our refinancing red tape we signed shows nothing of using escrow funds to pay off the original mortgage amount. But the institution says they used a part of our escrow balance (95% of it) in paying off the note. We refinanced at the same institution that held the mortgage.