I also have been in the process of trying to lower our interest rate. We started in August of 2010 and were told in September we would be closing, then it moved to October then November, then December came and all of a sudden we now needed an appraisal done which qualified, we were told we were second on the list to close that was a month ago, it is now January 12, 2011 and we still have not heard anything. Our mortgage guy lives in southern ca, and we live in northern ca (why we got someone in the completely different part of the state I don't know), he never calls us or returns our phone calls he just says that we are still waiting. It should not take 6 months and counting just to lower your interest rate especially when you have everything in they have asked for, you have perfect credit, you haven't missed any of your payments! What the hell are they doing. I also am starting to feel scammed. They charged like 500.00 to our credit card that they said would be to get the loan started and that we would get it back at closing which now I'm starting to think is not going to happen after listening to everyone else. I don't know what to do after reading everyone's comments now. Are there other banks doing loans like this that are real? I feel like know wonder everyone is loosing there homes, they call the banks to try to get help and it takes a year to do the process, well by then everyone's house's are going to go into foreclosure because the banks are taking sooooooo long!