ambiguator
Junior Member
I'm in Philadelphia, Pennsylvania.
I'm trying to get about 15K out of my house -- i've got 75K equity on my 280K house based on my latest appraisal. I'm approved for income / debt / etc., but when my loan got to the underwriter the application hit a snag.
My home sits on 2 lots, each with its own address, but there's only 1 deed for the property.
I got a Countrywide mortgage for this property when I bought it -- no issues.
I refinanced this property with Wells Fargo a couple years later -- no issues.
Now when I want a measly 15K from TD Bank, the underwriter says I need to get the deeds split up to reflect that there are two properties.
In Philadelphia, this process will cost me time and money that I would rather spend on something useful.
3 questions:
Not sure if freeadvice legal forum is the best place to ask about this or where the best info might be, but I've received plenty of great advice in the past. Thanks in advance,
/a
I'm trying to get about 15K out of my house -- i've got 75K equity on my 280K house based on my latest appraisal. I'm approved for income / debt / etc., but when my loan got to the underwriter the application hit a snag.
My home sits on 2 lots, each with its own address, but there's only 1 deed for the property.
I got a Countrywide mortgage for this property when I bought it -- no issues.
I refinanced this property with Wells Fargo a couple years later -- no issues.
Now when I want a measly 15K from TD Bank, the underwriter says I need to get the deeds split up to reflect that there are two properties.
In Philadelphia, this process will cost me time and money that I would rather spend on something useful.
3 questions:
- Are there any talking points or legal recourse I can use with TD Bank to try and force this loan through?
- If I decide to try another lender, will the fact that I have a mortgage with Wells Fargo increase the likelihood that they'll give me an equity loan?
- How can I get in touch with the underwriter of another lender before they run my credit to see if I'll hit the same snag?
Not sure if freeadvice legal forum is the best place to ask about this or where the best info might be, but I've received plenty of great advice in the past. Thanks in advance,
/a