This topic contains 11 replies, has 8 voices, and was last updated by Anonymous 8 years, 3 months ago.
- May 4, 2011 at 3:38 am #425511
You can go find another lender to refinance with.
- May 4, 2011 at 4:17 am #425512
Refinancing requires all the steps you went though for your first mortgage. From appraisal to title search
- May 4, 2011 at 4:36 am #425513
14 years in the mortgage business and I haven’t yet asked anyone to provide a birth certificate. The goal as a loan officer is to get the documents necessary for approval up front all at once to get the fastest approval before rate locks expire and your borrower takes their business elsewhere.
It is your loan officer’s job to keep you informed and the fact that you are being kept in the dark is a good sign you should be looking elsewhere to refinance. If you have paid for an appraisal you probably can’t transfer the appraisal to a new lender. If you don’t get a satisfactory explanation from your current lender you may have to go to someone else to get it done.
- May 4, 2011 at 5:05 am #425514
Welcome to the world of refinancing in 2010.
I think some of the items they ask for is just because they ran out of things to ask for but they wanted to ask more questions, so they make some hocky questions up.
I own two small businesses and could pay my house off, if I wanted and I have a credit score of around 797 (it’s not like I’m a risk). I started the refinance process in mid-October. This week I get a question asking for IRS Form 4506-T, which is giving permission to the re-fi company to get a copy of my tax returns directly from the IRS. As a self employed person, it’s easier for me to submit fraudulent tax forms, so this is probably a standard process. But why did they wait 2 months to ask for this = just silly!
- May 4, 2011 at 6:03 am #425515
The bank is giving you money for essentially paper, to asking for financial documents is STANDARD among lenders. No doc loans have gone away.
However, asking for one document at a time means you are dealing with an inexperienced loan officer. Call the branch manager and tell them you want a LIST of what is needed and any other documents that are asked for, you need an explanation.
I can tell you why they need the birth certificates of the kids. Are you claiming child support as income? If so, you have to prove a 3 year continuance…so they need the birth certificates of the children in order to prove their ages. That is a STANDARD request.
If you don’t want to use the child support income, then they do not need the birth certificates of the children.
Nothing you wrote stood out to me as being odd.
- May 5, 2011 at 3:56 am #202736
i am on income support and paying ?25 a week,proberly for the rest of my life to a debt management company.It means i end up with just a tenner a week for food after paying this and my household bills etc.What can i do,other than declare myself bankcrupt.Myself & son are sick of going without anything to eat but bread and jam.We cant afford proper meals,and we cant afford meat and veg or fruit.I have that many creditor debts that i’m unlikely to ever get them paid off in my lifetime as i’m in my mid fifties now,and they are only getting paid small amounts on a monthly basis from my DM company.I wish i didnt have a spending addiction as its led me into a life of debt that i cant get free from,and having to pay into my DM programme each week is making a big hole in my benefits.No wonder we havent got enough to live on.
- May 6, 2011 at 1:21 am #258977
I, too, think you ought to go and discuss matters with the CAB, they have no axe to grind and will tell you straight. Tell them the full story, which I feel is a little more than is in here. For instance, I believe you mentioned elsewhere that both your son and yourself have contract mobiles, I’d be asking why . . .
Sometimes those commercial “debt management” companies are the worst thing you can get entangled with. They’re not doing it for nothing, are they?
- May 6, 2011 at 2:54 am #259247
hi , i really feel for you, i know how hard it can be living off low paid benefits
the best thing to do is either call the debtors , ask them if you can pay a lesser amount tho they will prob refuse , if so go to citizens advice they can usually sort this out , i knew someone who was up to her eyes in huge debts and she ended up paying a tenner a month on a debt scheme
also dont take this the wrong way – you never m,entioned
your sons age but if he is 16+ could he not get a job even part time to help out with the food and the bills?
are you claiming the correct amount of benefit – child tax, child benefit etc
you will prob get a lot of idiots on here saying crap like “go get a job” just ignore them they obviously not a clue what its like to be in that situation and everyone is different
- May 6, 2011 at 5:56 am #259878
Work! No other answer.
- May 6, 2011 at 5:14 pm #262290
is there a reason why your son cannot work? you havent mentioned child support which you would be getting if he was under 16 or under 18 if in full time education. also if your of working age then you would be able to get either incapacity benefu=it if your unable to work, or jobseekers allowance if your searching for work. if your disabled you can get disability living allowance and income suppoert of a single parent is 85.26 a week because i get it. i think you havent been quite as honest in your writings. tell the full story and you will get honest helpfull answers
- May 8, 2011 at 5:25 pm #268135
I know exactly what you’re going through. Firstly, i hope your debt management company is a free one. Any other DM company will charge a fee which wont help your situation. Also, like other people have mentioned, go and talk to your CAB. They will tell you the truth straight and your options without trying to flog you anything. By the sounds of it you should be on an IVA. Thats when the majority of your debt gets written off, and you pay off what you can comfortably afford. (Your debts need to be ?15000 or over for this option). It only stays on your credit file for about 6 years i believe, so this may be a good option. Companies naturally hate it.. Thirdly, you need to get your benefits sorted out. If you’re living on a tenner a week to feed yourself and your son that is immoral, so you need to talk to the benefit company and make sure you’re getting all your entitled to. I know people who are in debt, and claiming benefits, and even they have more than a ?10 a week to survive on. Finally, see if you can switch any of your regular bills to cheaper options. Your mobile, broadband, tv service, home phone etc. If you switch to virgin or sky for example, you could save a huge amount by moving your services to them. There’s also companies offering cheap broadband, so make sure you’re getting the best deals. Also, ignore anyone else who tells you to go and get a job. I’m sure if you could you would. Few people are out of work for the fun of it. Good luck.
- May 11, 2011 at 4:33 am #272441
You are on income support now are you and not incapacity benefit? I’ve just done a basic calculation on your benefits. I don’t know how old your son is, but can assume you are either getting child tax credits child benefit and possibly EMA (if he is at college). If he’s not, why isn’t he working? I assumed your rent and council tax on the averages in Birmingham. Your income will be around ?250.00 per week including your rent and council tax benefit. Take ?25 off that for your ‘Debt management programme and you have ?225.00 a week to live on. Is there a reason why you are on Income support? Perhaps you should give up your broadband and cable etc. Perhaps you will be able to buy a bag of spuds then. If you’re thinking about bankruptcy it will cost you around ?480 to do so.
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