My cash out refi closing got delayed by a week because the appraiser ghosted us

I was all set to pull $40k out for a new roof and driveway last month in Phoenix, but the appraiser never showed up to my house and the bank didn't call me about it until three days later, has anyone else had a no show appraiser mess up their timeline?

2 comments

2 Comments

charles9194d ago

Oh man, that's rough. Did the bank ever say why the appraiser just didn't show up or give you any kind of heads up? I mean, it seems like they should have called you same day to reschedule, not three days later. That kind of delay can mess with your rate lock too if rates move.

craig.tessa4d ago

Nah, the rate lock thing is the real kicker here. If rates jump even a quarter point while you're waiting, that $40k loan gets way more expensive over time. Most lenders won't extend a rate lock for free just because their appraiser flaked out.