ARM-twisting by bank irks borrower

DEAR HARRY: I am in the midst of refinancing our adjustable-rate mortgage (ARM). I do not like all the talk about higher rates just around the corner. My bank has given me a good fixed rate for a mortgage it locked in some months ago. First, they needed more info on my credit score. They finally got it (760). Then there were other delays at their end. The lock-in expired and they renewed it without a peep. We're getting near the new expiration date, and I'm still in the dark. I get no real answers when I call - just further delays. I even asked the chief honcho if the bank just wanted to turn me down, but he denied that vigorously. What can I do to speed things up? I have done everything they have asked for.

WHAT HARRY SAYS: You probably can't speed them up. Some toad at your bank is just a "foot-dragger" or a reluctant lender. He may even be waiting for an interest-rate rise before pushing your loan through. My suggestion is that you go elsewhere. It is not a bad idea to go to two elsewheres. It's smart to make one of them a credit union in your area. Try to get a time commitment for settlement before you get delayed again. Good luck!

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