12-11-2009, 06:40 PM
How much equity do you have in the house? Has it dropped in value since you bought it? Some banks are being pretty brutal about appraisals right now. We refied back in January from 6% down to 4.75% and it went pretty smoothly.
Getting a home equity line back was a nightmare though because the two big banks we were dealing with took forever and both appraised our house at 60k less than the refi appraisal. We finally went with a local bank who accepted our refi appraisal and had it done in under two weeks vs. the months of foot-dragging from the big banks.
Getting a home equity line back was a nightmare though because the two big banks we were dealing with took forever and both appraised our house at 60k less than the refi appraisal. We finally went with a local bank who accepted our refi appraisal and had it done in under two weeks vs. the months of foot-dragging from the big banks.