Refinancing

We’ve been trying to refinance our house for almost a year now.  Started the process last April, locked in a rate in the low 4’s.  Got the appraisal done and then the bank dropped the ball.  And I guess we did too for not staying on top of them.  Well, a few months ago we started it again…rate is a little higher now but still mid 4’s (we’re close to 6 right now I think).

Everything was going fine except first we needed like $5K to close…ok, we can find that somewhere since it’s going to save us money.  Well now they want us to come up with $15K to close.  Um….yea, if we want to wipe out our savings!  Not.

So we work hard, pay our bills on time every month and are jumping through hoops to try and get a lower rate.  But you have people who are handed low rates because they are behind on their bills and in danger of losing their house?  Seems a little backwards to me and honestly makes me mad.  I’m sure there’s all sorts of stipulations with those type of refinances (I think they call it a modification) like L O N G terms or being locked in without being able to refinance again but still…where’s our break for being good customers?