Real Estate Lending Time

[Eric M James]

I been gifted with a multifamily apartment unit of 4. The property is mortgage free and clear in my personal name. Im looking to do a cashout/refinance w a subject to completion. Its bn over 30 days in the loan process. An appraisal has been done and submitted to the bank. At this point the bank is telljng me that they have requested more information from the appraiser due to needing a more accurate value amount. Am i wrong for thinking that the bank is trying to stall until the beginning of the year? If anyone has been in this situation before i would love to hear your feedback. Thanks in advance.