I want to back out of refinancing mortgage

[emanon1501]

I want to back out but how do I tell the bank? They already approved it and waived appraisal fee. All that is left is to submit my latest paystub and close it. Reason is that I am not comfortable with that bank and high closing cost.

[kork13]

Super easy -- just call them up, and say "no thanks." You're not obligated to close on the mortgage. You may have to reimburse for the appraisal, but that would be the worst of it.

I got about halfway into a mortgage on our current house, when we decided to buy in cash. We told the credit union we decided against the loan, and it went away.

[Jluke]

You can tell them or just don’t provide the next set of documents.

there’s a timeline and if you fail to meet it they will stop the process

[Snicks]

If you are not comfortable, then listen to that. Just call them and tell then you aren't going to do this at this time. And if they try to argue you into it, say just say reiterate that and tell them you will contact them if and when you are ready to do so