Re: Loan committee says NO! - Posted by Tony Colella
Posted by Tony Colella on April 26, 2006 at 21:53:54:
One “no” down, more to come but a “yes” is in there somewhere, you just have to keep asking other banks.
Its not fun, especially when you have a good relationship with one bank but quite often we have to go outside that bank to others. Somehow it always seems to turn out better in the long run for us. We get good contacts at a new bank and the original banks seems to find comfort in the fact that some other lender has agreed that what you do is a wise investment for them.
Refinances are easier and that is essentially what your bank is telling you. If you can find the cash another way, another lender you will likely find your bank much more flexible.