refinancing

California
I am in the process of refinancing my home. I have been told by the lender that everything is OK I have been approved for the loan. The appraisal has been done and we are continueing ahead. I have about 3 weeks invested in this loan and I can't get the lthe person handling my loan to call me back on a regular basis and answer my questions, like when are we closeing? I have made commitments on the money for home repairs based on what he has told me. If I don't close by 22 nd nof this month, November I will have a problem. If this dosen't go as I have been told, do I have any recourse against the broker handling the loan and guideing me along the way if something happens and the loan dosen't go as I was told?

[HomeGuru]

[quote]Originally posted by tutaka
[b]California
I am in the process of refinancing my home. I have been told by the lender that everything is OK I have been approved for the loan. The appraisal has been done and we are continueing ahead. I have about 3 weeks invested in this loan and I can't get the lthe person handling my loan to call me back on a regular basis and answer my questions, like when are we closeing? I have made commitments on the money for home repairs based on what he has told me. If I don't close by 22 nd nof this month, November I will have a problem. If this dosen't go as I have been told, do I have any recourse against the broker handling the loan and guideing me along the way if something happens and the loan dosen't go as I was told?

**A: do you have a written loan commitment from your direct lender?
Do you anything in writing from your mortgage broker with respect to date of closing, date of funding etc.
You should not make any commitments for home repairs until you have the money in hand. And do not count on verbal representations especially when money is concerned.

All I have is a good faith estimate and his continual word that there is no problem and his round and round double talk about locking in the intrest rate. The last thing I heard after the appraisal was he would work through the weekend to get the papers ready. Which I assumed (wrong thing to do I know better) meant we would be a couple of days from closing. I haven't heard from him in 5 days and have left several messages for him. My credit rateing is 711 my credit is good so I am not sure what the problem is except maybe I picked the wrong one to get me the loan. Also I don't have a binding contract on any repairs as of yet. But my word and keeping it means I feel personaly obligated to follow through on what I say.

[HomeGuru]

[quote]Originally posted by tutaka
[b]All I have is a good faith estimate and his continual word that there is no problem and his round and round double talk about locking in the intrest rate. The last thing I heard after the appraisal was he would work through the weekend to get the papers ready. Which I assumed (wrong thing to do I know better) meant we would be a couple of days from closing. I haven't heard from him in 5 days and have left several messages for him. My credit rateing is 711 my credit is good so I am not sure what the problem is except maybe I picked the wrong one to get me the loan. Also I don't have a binding contract on any repairs as of yet. But my word and keeping it means I feel personaly obligated to follow through on what I say.

**A: then you really have nothing yet. Contact his principal broker and/or file a complaint with the State regulatory agency.

what would the state regulatory agency for this type of thing be called? Thanks for your help.

[HomeGuru]

[quote]Originally posted by tutaka
[b]what would the state regulatory agency for this type of thing be called? Thanks for your help.

**A: depending on what entity the person handling your loan works for, it could be a mortgage broker, bank, credit union, mortgage banker etc., you would need to ask your State information office for the correct department.
EX: if you are dealing with a mortgage broker the State licenses mortgage brokers and real estate agents and brokers.