My loan has been dragged for over 7 months. What should I do?I started refinance for an investment property with Bank of America in early May 2010. The loan officer locked a 60 day rate for me. BoA charged us for $635 in appraisal. The appraisal came back 30k less than the appraisal I had in Jan 2010. We listed reasons to show that appraisal was inaccurate, but BoA was not willing to change. The loan officer told us that we had to pay down 30k more in order to continue the loan process. We said yes. Somehow from that point on, the loan officer started to purposely delay the process. We have been repeatedly asked for providing updated docs. We have provided our pay-stubs and bank statements three times already, one in May, one in Aug. and one in Nov. We were repeatedly told that the loan was very close to be approved, including one email on Nov 9. But after that Nov 9 email, suddenly no responses to our emails and calls from BoA at all. Yesterday, we were surprisely told that our loan had been cancelled due to lacking of documents and our loan officer left BoA in Nov. We were very upset. The manager at BoA told us that the only thing they could do is to restart the loan process and our rate would be higher. That is absurd. I told BoA that it was unacceptable. The reasons that we did not walk away were 1) we paid $635 for appraisal, 2) the tenant told us that he wished it was the last time that he had to help with appraisal. We have talked with the credit card company a few months ago. The credit card company said BoA still processed the loan and so we could not dispute the charge right now. I would like to know what I can do if BoA insists for a higher rate. Is there any regulation to prevent loan officer or lender treat consumer like this? ThanksDecember 14 2010 - El Cerrito00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.