Financing in Louisville>Question Details

Bidwell12, Home Owner in Louisville, GA

my loan officer took our application on may 12th and it still does not have an answer we are applying for a refinance and it is 6 weeks what is wrong

Asked by Bidwell12, Louisville, GA Wed May 25, 2011

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How could it possibly be 6 weeks, you said they took the application on 5/12, its 5/26 today, that's only 2 weeks ago! You are just anxious to get acceptance, relax it will come!
0 votes Thank Flag Link Thu May 26, 2011
Ah, Louisville, former capitol of GA....A refinance can take longer if there are issues with your income, the appraisal, credit etc. Your area may also have been hit with lower values than the loan officer had anticipated and is trying to find a way of flipping your loan from FHA to Fannie Mae for example. Give your loan officer the benefit of the doubt. Obviously you picked him/her because of good reason. Call the person up and ask if there is anything you can do to assist. It's stressful enough that their income has been slashed by the feds. Be happy that you have a place to live. By the way, if you do have equity, now would be a good time to put it to good use for your future retirement since borrowed money is tax free. If you don't have equity, I can still help you start saving for retirement safely and without loss of your money. I live close to Jefferson County to make a trip and visit you.

Bill Polack 404-644-3295
0 votes Thank Flag Link Thu May 26, 2011
How did you hear about this loan company? Radio commercial, TV ad, internet. I always suggest using a loan office connected to an experienced real estate agent. They would never dare treat you this poorly.

David Cooper! Las Vegas Bank Owned Foreclosure Investor
Save 20% and more.. For Freee Daily List
email: or Call +1-7024997037
0 votes Thank Flag Link Wed May 25, 2011
May 12th to today is not 6 weeks! But in any event, if you provided them with a full loan application and all the documentation (W2's paychecks, bank statements) that they needed, you should have had an answer in 24 to 48 hours tops.

Lori Beardslee, Branch Manager
Silverton Mortgage Specialists
Atlanta and surrounding areas
(770) 527-1375
0 votes Thank Flag Link Wed May 25, 2011
That has been quite awhile - did the loan officer go over what each step would be and how long they estimated each would take?

However May 12th to know is only 2 weeks, perhaps you meant April 12th. Either way, it's been a really long time if that is the last time your loan officer communicated with you.

Write down a list of questions, call them up, and refuse to get off the phone until you have answers or someone personally takes responsibility to find them out for you and who will call you back today (or perhaps tomorrow since it's 4:46PM in Georgia now).

If they say there are issues, find out what those issues are, and come back and let us know and we'll be happy to provide you feedback on what a solution could be.
0 votes Thank Flag Link Wed May 25, 2011
It should not take longer than 24 hours from the date of application until prequal is complete. If you have already done the appraisal then you should be able to close no more than a few days after the appraisal is done. If you would like to chat about your situation I would be happy to find out more about where you are in the the process and see if i can help you out. Feel free to call me at 678-564-1522. My name is Brian Berman and I am the Owner of Mortgage Atlanta. I will make sure you are taken care of from start to finish.
0 votes Thank Flag Link Wed May 25, 2011
If you just submitted the application on May 12th, that is not even 2 weeks ago. Unless you submitted everything needed on that day, it might not have been submitted to Processing until that point. You just need to contact your loan officer for a status update.

Rodney Mason
Sr Loan Officer / FHA 203K Renovation / HomePath Specialist
Prospect Mortgage
Atlanta, GA
(404) 591-2453
NMLS #151088
Apply Online at
Licensed in AL & GA
0 votes Thank Flag Link Wed May 25, 2011
Did you ask?

You should have an answer on a re-fi very quickly. Time to find a new LO.
0 votes Thank Flag Link Wed May 25, 2011
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