Refi – Almost Done

As per my previous posts, I am in the process of refinancing my home. Frankly, it has been a baffling process whereby banks seem oblivious to their own best interests.

1. For reasons I cannot understand, the bank did not want to put my wife's name on the mortgage.
   
2. The appraisal was idiotic. All I wanted to do was convert my ARM (4.7%) into a fixed loan. I did not want to extend the term of the loan or take money out. By fixing the interest rate, the bank reduced risk and I reduced my risk. The bank should have been begging me to convert the loan to a fixed rate.
   
3. I ended up having to reduce the principal due on my first mortgage by $3 grand. Since the bank owns the 2^nd mortgage, they should have insisted on having the money applied to the 2^nd mortgage – not the 1^st.