Asked by bugsy100, Indianapolis, IN • Thu May 24, 2012
I am now over 3 months into refinancing a rental home. Excellent credit, great job, should be a slam dunk loan. The broker initially told me he could get the loan as a "second home" rather than "investment". After the rate was locked as a "second home", underwriting is saying no. Now, my rate is apparently changing for the 3rd time. Again, 3 months into the deal, and he's "seeing what he can do for me". I feel I deserve something for my anguish and time wasted. What recourse do I have other than walking away from the closing table next week (something I don't really want to do because I think I'm finally at the finish line and I need the money out of the refinance). Advice?
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