This was supposed to be a simple refinance of our home.instead, it turned into a long and nerve wracking experience.
Several times during the process we were called with more requirements, including a call questioning the appraisor whom they had recommended, resulting in two seperate visits by the aforementioned appraisor... At our expense. Also a roof inspection was ordered at our expense and a request to retile the kitchen floor after the appraisor's first visit. Since the purpose of the refinance was for home improvements, we felt this floor replacement was an unusual request.
After jumping through these hoops to satisfy "the investors" we were forced to wait even longer when the underwriter took an unexpected vacation.
Finalizing the loan resulted in more delays as more papers had to be sent to the Public Notary for us to sign after her first visit requiring a second visit from her after the 72 hour cooling off period.
After all documents were signed and the loan finally was funded and registered we received or check, and a check for the Notary and the Roof Inspector, but the creditors that we had decided to pay off with the surplus funds were not paid.
The following day, we deposited the check in the bank, and arranged to pay the credit accounts that Hacienda had unaccountedly not paid. Less than one hour later we recieved a call from Hacienda'a agent informing us that the check was going to be cancelled, but the money would be wired into our account within the hour if i gave them our banks name, routing information and bank account number, and a fax of a voided check.
I have refinanced this house before to use the equity for various improvements to the property and was in and out of the escrow procedure in a very short period of time without any trouble at all.
I can only conclude that Hacienda Escrow Corporation is either incompetant or a very shady orginization...
Use this company at your own risk!!!
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