Sorry to tell you but it ever happens (in the several dozen loans I’ve done) and is not necessary. The real core issue is the broker working on the file and identifying the open issues/documentation and then communicating those things to the client in a timely manner.
Get some more ammunition on your side.
- Did you purchase the house through an agent?
- Is there a listing agent as well as a purchasing agent?
I always hit the enter key instead of going to the next line. What I have found is that good loan officers, real estate agents and title companies are all as motivated to close the deal as much as you are…since they have a stake in the successful closing. The agents and loan officer/broker gets their commission, the title company gets paid to do the docs and the title insurance. Get them on your side. Also, ask the mortgage broker to do the good faith estimate. Ask them what company has been assigned to do the appraisal and get the appraisal company’s phone number. Let the mortgage company know that you are calling that appraisal company right after you get off the phone with them to verify that someone is on the case. If you get nowhere by Tuesday, let them know that you wll call another lender who is on top of their game to insure that your deal gets done. You are going to do a ton of business, and you want to build strong relationships right from the start.
To summarize, the best at their profession will be on your side to get the deal closed…since that is how they get paid.
Best of Luck with the situation.
The appraising has been done. I asked for the amount and never got an answer. I have the good faith estimate.
I am not using a realtor.
The thing that pissed me off:
3 weeks ago I e-mailed and called the LO. I e-mailed her my paper work( taxes, bank statements etc) and said to call me if that was not exactly what she needed or if anything was missing. I sent her 6 e-mails telling her to let me know now what else I need so I don’t have to scramble at the last minute for some papers that I may need. For the next 3 weeks I e-mailed and called and got no answer. (in her defense, she was on vacation for a week but I was never told).
Then I finally get a hold of her this week and she says she needs different bank statments before she sends my file to the under writers. I close in two weeks. I know seems like a minor thing but she should have told me that three weeks ago. She did not even look at my file for those three weeks.
That would tick me off too. I guess you will not use her again. What an idiot she is. People sometimes make themselves unemployed.
- Do your bank statements look good? Do they show you have enough in checking or Home Equity lines to take to the closing for your down payment?
- Do you know what your credit score is?
- You should be fine.
1. Do your bank statements look good? Do they show you have enough in checking or Home Equity lines to take to the closing for your down payment?
I am paying nothing at closing. The statments were off the the internet and only showed the last 4 digits form my account for security reasons. I never noticed it before.
2. Do you know what your credit score is?580, 602,620
3. You should be fine.I hope so. I am 27 and living with my mom and my son and girl live down the street. ::)
I just sent you an email with some helpful information…particularly item number 2 which says which documents to have ready.
Also, read the part on improving your credit. Some of the things in there may be able to raise your scores very quickly.
This will help you as you continue to invest.
I sent you two e-mails.
unforuntately this happens ALL the time. play the game and call this jerk-off of loan officer every day and push this deal thru. I have had this happen many times. I know it pisses you off becuase you were proactive and now your on the short end agina, but just get it done. Keep you head up and try and be professional as possible. Stay focus on the end result which is closing the deal. Do not get sidetracked with pettiness of who screwed up, etc. Its a waste of time.
best of luck
It just pisses me off because the seller has an apartment set up for that date and etc.
Not that my assessment will help the situation, but I’m willing to bet you’ve got a LO that figures that she needs to service her best clients first and that you won’t have the cajones to bolt if she treats you like what you are; someone that probably won’t bring her nearly as many loans as everyone else she’s dealing with. Particularly if she’s working the refi market right now instead of focussing on purchases. As a result, you got kicked to the bottom of the list.