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The new conforming loan limits for 2022 have been announced, an increase of more than 18% over 2021, and up by more than 52% since 2017!

The new conforming loan limits for 2022 have been announced, an increase of more than 18% over 2021, and up by more than 52% since 2017!

Why is refinancing such a hassle?

Q: We started the process of refinancing three months ago. We were approved quickly however the mortgage company lost papers, has us jumping through hoops and set us up for a 30-year loan when the original application was for 20 years. Meanwhile the interest rate is back up to nearly what we are paying now. Is this run-around typical?

A: Sorry to hear of your troubles, which are more commonplace in today's market than you might expect. Without a lot more detail about your situation, it's hard to even speculate on the source of the troubles, but the changing availability and price of mortgage credit, new regulations, a lack of experienced personnel and more can all contribute to a frustrating and unsuccessful refinance.

If you haven't committed too much money to the process, you might consider pulling the plug and contacting another mortgage lender to see if your level of service and competency improves.

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