jmat
12-05-2007, 08:36 AM
Hi,
I was wondering if anyone new if a lender can do the following. I was told that my paperwork for refinancing was all set. Closing was to take place on Saturday 11//1 no one came. The lender said he would call to see what happened. I find out today 11/5 that they can not do the refinancing because the apprasial on my home was cut by 70,000. Appraisel was just done 3 weeks ago. This is for an FHA loan and he said this cut was done by the FHA. What I dont understand is how can they say my paperwork is set and someone will be here to close on 11/1 and then to say the apprasial was cut.
I was wondering if anyone new if a lender can do the following. I was told that my paperwork for refinancing was all set. Closing was to take place on Saturday 11//1 no one came. The lender said he would call to see what happened. I find out today 11/5 that they can not do the refinancing because the apprasial on my home was cut by 70,000. Appraisel was just done 3 weeks ago. This is for an FHA loan and he said this cut was done by the FHA. What I dont understand is how can they say my paperwork is set and someone will be here to close on 11/1 and then to say the apprasial was cut.
