I've been waiting forever (well, feels like forever anyway) to hear back about my home equity loan for debt consolidation. They said it'd be quick, but it's been dragging on and on. Every time I call, it's like "we're still reviewing your application" or "just a few more days." Um, seriously? Starting to wonder if it's just me or if banks always take their sweet time with this stuff. Anyone else dealt with this kind of runaround?
"Every time I call, it's like 'we're still reviewing your application' or 'just a few more days.' Um, seriously?"
Ha, reading this gave me flashbacks to when I refinanced my mortgage last year. They promised it would be "quick and painless," but it felt more like pulling teeth. Every time I thought we were finally done, they'd suddenly need another document or clarification on something I'd already explained twice. It was like a never-ending cycle of paperwork and vague reassurances.
Honestly, I started wondering if the delays were intentional—like maybe they drag things out hoping you'll just give up or something? Or maybe banks are just that overloaded and inefficient these days. Either way, it was super frustrating.
Eventually, after weeks of back-and-forth and multiple "just a few more days" promises, it did get approved. But by then I'd almost forgotten why I wanted the refinance in the first place!
Makes me curious though—do you think certain types of loans (like home equity vs refinancing) get processed differently or prioritized differently by banks? Maybe some are considered riskier or require more scrutiny? Just thinking out loud here...
Banks can definitely drag their feet sometimes, but in my experience it's usually not intentional—more like they're juggling a ton of applications and compliance hoops. Home equity loans can take longer because banks scrutinize the property's current value and your equity carefully. Still, I get why you're frustrated...hang in there, though. Once you're approved, it'll feel worth it (or at least less annoying).
