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SOOOOO Frustrated...

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So for the third time now we have not been able to refinance our house for various reasons beyond our control.


This time, our house appraised lower than originally expected. In fact at this point we've been here 10 years and have NO equity built up. It appraised for almost what we currently owe. A few years ago, it was almost $70,000 over what we owed.


And here's the kicker as to why it appraised lower: because of some homes going into foreclosure in our area, which made our house appraise much lower.


So because of something that we did not do and unfortunately happened to someone else, we are not going through with our refi.


But I will say that DH and I talked and there is a higher reason for this. We must not be meant to refi and we will see why I'm sure...it just stinks not knowing the answers to the questions we ask right away...

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We have exhausted all channels to do a re-fi and it will just not appraise at what we need it to be. We are casualties of the bubble and stuck. We got a temporary adjustment but that ends this Feb. It really burned me that for all the talk of the mortgage companies working to keep people in their homes they do NOTHING for people who continue to pay on time but are stuck with a crappy rate. Being responsible gets you no where.:glare:

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I feel your pain. We can't sell ours because every other sale in the neighborhood has been a short sale which lowers our value. I feel bad for the people because the economy collapse wasn't their fault but I do admit to feeling more than a little resentful at times. It isn't fair to the rest of us.

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Yeah the loan person cracked me up. We were planning on getting a good amount back to use towards some updates here at home as well as rolling our closing costs in and such. She tells DH that we'll be needing to pay $11,000 in closing costs and then proceeds to ask if we have any liquid assests that we can use towards it.


IS SHE CRAZY? We will not be doing the loan lady. It's not worth it at the current figures! DH is sooooo lucky I wasn't talking to her when she was asking those questions. :glare:

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