Cash Out Refinance Help

[Dirk Jackson]

Hi BP.  I have run into a problem with a cash out refinance on a rental property.  The good part about the loan is that I got approved.  The bad part is that it was a conditional approval.  The condition was that a charge off Best Buy credit card needs to be paid.  So I contact the collection department and they tell me they can not accept payments over the phone.  So I mail the payment about 3 weeks ago and the payment was lost in the mail.  They gave me the wrong address they moved and did not have a forwarding address submitted yet.  So long story short Ive been trying to get the mail routed to their new address the whole time with no luck.  Meanwhile the lender tells me that we are ready to close but they need something in writing from the collection department so they can just pay it.  The collection department tells them it will be 15-30 days to mail the letter. Supposedly they can't just fax or email a statement. This is so frustrating and confusing.  So I guess I was just hoping that someone could let me know what I can do.  Thanks and happy investing.