Refinancing -- is this normal these days?
We bought our house 12 years ago and have had the same lender since then (though it's changed hands and names several times) -- a big national company. We have refinanced twice since then, and decided to do so once more to take advantage of the current low rates. This company was sending us letters offering a "no cost" refi and it seemed like a good deal. We have more than 50% equity in the house and excellent credit, and no other debts.
The original paperwork they sent mentioned a closing date of August 15. Well, obviously that has come and gone, but they haven't approved the loan yet. Every week or so, they call and ask for more information -- some of which I have already given them. This is making us increasingly nervous about their general competence and wondering if we should just bag it and apply for a loan with our credit union instead. We have paid for an appraisal, but other than my time spent sending documents and making phone calls have made no other investment in this refi. (I would hate to lose what we spent on the appraisal if it's not necessary, though.)