Good afternoon everyone! Long post alert but please bare with me and add if you have any value.
I have a situation that I need advise on how to handle it. Back in February of this year I decided to take advantage of doing some cash out refinancing on 3 rental properties that I had a lot of equity in. I shopped briefly for someone local that I could meet face to face because that is how I like to do business. I chose a young individual that seemed to be easy to work with. I then sent over all my financials and we scheduled the appraisals. The appraisals we performed mid March. I then went several weeks which turned into months. I have then since reached out weekly asking where we are at and I keep getting one excuse after another why it is not my fault or set mortgage brokers fault. "Its the lender" I have been pushing daily just checking in trying to get these deals wrapped up but just keep getting the run around like a bad tenet. Now he is asking me to pay for another set of appraisals because they are back from march and the lender is requiring it. I paid $715 per appraisal and I will not be paying them again just for someone to drag their feet. I now have lost respect for this person as I keep finding dirt asking around thru other lenders, title companies, real estate agents, and insurance groups.
Is there a way that since the mortgage was not performed in a timely manner that I can be compensated for the appraisals and other fees due to mortgage broker in my opinion not knowing what he is doing? Any advise is welcome as this problem is new to me.
