Has anyone had to go back to the lender and ask for an extension for the closing date? We need about 2 weeks beyond what Citimortage gave us and they won’t budge. Just wanted to know what other’s experiences (if any) might be. Thanks!
Closing date for what? Short sale? New loan? Buying an REO? Selling a prop in FCL?
closing for a SS; sorry about that.
I got an extension to a SS closing. It was b/c I was leaving the country on business during original closing date.
I’m trying to do that right now. Mortgage company gave me 11 days to close on first acceptance which I couldn’t do and told them so. They told me I had to present a new HUD-1 for approval after the requested closing date. That will be tomorrow. This also has a second which I negotiated to $1500 on a $26000 lien. They are saying they won’t extend the closing date. My only thought is to offer a little more money and see if they will agree. They had originally want $2500 so I am thinking I might increase my offer from $1500 to $2000. Any other thoughts would be great to hear.
My thought is this. If anyone believes this I’ll sell them the Brooklyn bridge. Who holds that second? I must be someone that is a moron. Can anyone on this site support this from their experience and be able to prove it? geez!
Come on people. What’s going on here? Is this a braggards site full of you know what?
Sorry if i offended anyone…I wasn’t bragging…and I’m not interested in the Brooklyn Bridge but thank you anyway. I thought this was a site to help people, not mouth off.
EH go to bed. We know you have to get up early and get on the bus so you can go to your third grade classroom.
Rest now, little one.
Prove it Lin.
Lin: This is a great site & I’ve learned lots of things from various posters on this site. Congrats on your deal!
What is your exit strategy? How long after the 11 days would it take you to close? Ask the bank if there’s a penalty per day if you don’t close on time. They usually include that in their final settlement papers. If your exit strategy is ironclad, then the amount of $ you’ll make could outweigh any penalties for not closing on time.
Thank you…our closing is delayed by the fact that the owner is actually bringing money to the table and she will not have her funds until the end of February. I already have an offer on the house as a rental with a couple of back up offers so I feel pretty good about that part. I will ask about the penalty. Thanks so much. I know I have always received great help on this site. It has seen me through some rough spots…I appreciate your help. Have a good evening!
No problem Lin.
Thanks for all the comments. As of today, we have no buyer and closing is 2/9/07 before $50 per diem kicks in. We might end up buying and rehabbing ourselves. Does anyone know how long it takes to get $ from a hard money lender?
SaraJ: There’s a HML I know of that can fund in <1week, typically in 2-3 days. Email me for the info.
Your truth is just that, YOUR truth. I come here to learn and it is really annoying to read your posts asking people to PROVE IT. You even say you don’t do research, you just DO IT. Thats dandy but you obviously have not figured out HOW to do short sales successfully. That must be why you stay on the short sale board putting up your PROVE IT posts. To me, these people MUST have done these short sales. Who the heck would spend their limited time going to some message board just to brag about a short sale that didn’t happen? C’mon! That said, if you don’t believe them, please keep quiet or go to another part of the forum you do believe in.
I challenge you to really learn short sales, yes, you’ll have to do some actual research so they might actually work. Just doing it hasn’t been too successful in this area for you has it. I know you won’t take that challenge. People like you don’t. You are unsucessful at it so you are the type that likes to spend YOUR limited time coming on “some message board” to bitch and moan and say others are lying saying they did it. In your mind I don’t think you can take the fact that others have done it and you have not. Your negativitiy is not helping anyone. It is just alienating you from everyone on the board.
This is from kdhastedt Forum MEMBER:
Personally, I’m about fed up with you…would it be too much to ask for you to just shut your pie-hole and keep it that way? You have never made a single post in these forums of any value. Over 100 posts and…squat. All you do is tell people that “it’ll never work” because YOU can’t figure out how to make it work…
You’ve got one foot in the grave, one on a banana peel and you’re slipping fast. How about just get a box of crayons and “shut up and color”?
I’ll be off to the moderator’s forum now to put up a vote to remove you from this site.
Have a nice day,
I’ve already warned him about:
Networking for partners
Advertising personal business