So you say you want to refinance?

It seemed a good idea. Extract some equity to fund repairs for the house and knock $ 300 of my monthly payment of the mortgage at the same time. But now there are five months and counting, as I found the process of refinancing my home mortgage begun, and there is no deadline in sight. Unable to perform Translation:invalid textThe name of the lender to remain anonymous, but it is an institution that I have a connection to the mid 80s. My mortgage is under water. My credit score 'brilliant. Houses on both sides of me last year were sold at prices that are not on top, nothing to scoff. Unable to perform Translation:invalid textThe storm, if a home equity line of credit (HELOC) with the same bank, a year ago in record time. But we It 'one thing to read is extended standard lending and underwriting services stricter. It 'something to live by them. You can change the name of one of the major banks and the story is very similar: Bank of America (BAC), Wells Fargo (WFC), Citibank (C), JPMorgan Chase (JPM). Consider a warning. Unable to perform Translation:invalid textWhen you take the lower interest rates to save some time by assembling all the relevant documents to prove their financial stability, the place itself. Unable to perform Translation:invalid textAt least, you need: tax returns for the last two years, at least two rounds of payroll, insurance documents, a copy of divorce decree if you change a name, every page of the declaration of your mutual funds have been and / / other accounts is evidence of activity. Unable to perform Translation:invalid textEven throw in the final result of the Myers-Briggs personality assessment. (Just kidding about that.) Unable to perform Translation:invalid textBe sure to keep all documents in a safe place in your area, at any time, because if your experience is like mine, you \ 'll need to send them once, twice, and hence the update the third time before the process is completed. My final advice: Unable to perform Translation:invalid text1. Present your home in a state as intact as possible to make the highest score possible. Affects the quantity, and then finally able to finance. Unable to perform Translation:invalid textMy bank was limited to 50% of the estimated value, so that every dollar counts assessment. I imagine that most of the value of floor area and sales of comparable property, the experts found, but I probably would have helped my cause when I was a bit 'cleaner. Unable to perform Translation:invalid text2. Do not count your chickens before they are born. Unable to perform Translation:invalid textEarly start with five bank informed me that no longer correspond to my three condominium construction of a building test. Thus, the fairness, I had the intention to pull out to pay for repairs, was no longer an option. The loan was rejected. An exception was made, but only because I can not withdraw its acceptance of the terms that my monthly payments pushed even lower, but allow me to fight for an alternative source for the work required to pay. I also have to give up, but my $ 10,000 HELOC. Unable to perform Translation:invalid text3. Getting a good relationship with the processor. The e-mail every week or two to see where things stand. Unable to perform Translation:invalid textThe turnover is high. They are now third in my CPU, since it all began. I learned that he had met by phone and e-mail your request in any case, always at the top of their mind. Keep your number of loans in a readily accessible place. You \ 'll use often. Unable to perform Translation:invalid text4. Pray. Meditate. Unable to perform Translation:invalid textAt this point, I could not believe it. Harm Unable to perform Translation:invalid textA different perspective here, a mortgage banker. Unable to perform Translation:invalid textWhat kind of experiences you tried to get a mortgage or refinance an existing business? Any positive stories to share? Weigh on the market.