Crickets....

[Anonymous]

Hello!  I have been a lurker for a long time and need a little advice about my loan situation.  I was preapproved for a USDA loan and found a house.  The bank provided a preapproval letter when I submitted the offer.  This was over two weeks ago and the close date was set for June 19.  I have been waiting for any kind of information about the loan but only hear crickets!  The LO finally said that it was submitted to underwriting today and that the appaisal was done on Monday.  I am not comfortable starting to pack because I am not confident that the loan will happen.  The 19th is less than two weeks away and I feel like my family is in limbo.  Something I am weary of with underwriting is the fact that I had a short sale in 2010 (VA loan) and a BK discharged in 2009.  The USDA website says 3 years since discharge.  My LO said that the underwriters knew the dates because they issued a preapproval.  Should I worry or start to chill out and pack?

Thanks for the help in advance!

[Anonymous]

I can understand the scared to pack thing.. we are actually taking early possession and have went thru underwriting once and got it back with conditions.. Provided docs for the conditions.. 1st appraisal was done Tuesday of last week.. Final appraisal is scheduled for tomorrow at 2pm.. we are moving into the house on Sunday, even called today to have electric and gas turned on in our name... I STILL HAVE PACKED NOTHING (but pictures from my livingroom walls...) (I should probably mention that we currently live in a 4brd 2 1/2bth home...) Closing is supposed to happen Monday at 3pm.. we still don't have the "Clear to Close"... I am so completely scared right now... I took the rest of this week (yes, which is only tomorrow) and all of next week as vacation at work... Could you just imagine taking all this time, moving into the house only to be told we have to move out.. UURRGG I'm scared!

[techgirl]

I wish I hadn't packed.... I thought we would have no problem - but it is like they are looking for reasons not to let us close. The latest is that we have to write the motherload of all letters stating why we should be given this loan. We have paid the $7,500 down payment and  save another frickin' $7,500 and we only need  to come up with $2,900 for closing. The Pulte LO stated that we were living off  our credit cards - totally not true. Very hurtful. I tried to have Pulte delete it from the FHA Connection file, but they said it was in underwriting, so there is proof. Yes, we had an overdraft account - we didn't realize that they would consider that living on credit cards!!!  So we paid the $7,500 off and saved another $7,500 and lived below our means. Now we have to write this letter to prove we should live here.  I asked the LO if he was looking for more interest rates or more down  - he was appalled.... I just want to close -really! We are totally packed and supposed to close 6/12. He had us finishing docs tomorrow - obviously, that won't happen. I guess I am trying to say is that you just never frickin' know.!

[Booner72]

I didn't pack until the appraisal came back, and then really hit it when the file came back from the UW the first time.  I did start going through drawers and closets and clothes and the garage and making trips to the goodwill.  Keep those receipts for your tax deduction!

Did you get a copy of your appraisal report?  If not you should.  I talked to my LO every single day and there is no way I could have gone 2 weeks without knowing what was going on . I need to know something constantly.  The appraisal report has pics and comps and all sorts of details about the house you would never know.  You paid for it, so you should get a copy.

[rckstrscott]

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@Booner72 wrote:

I didn't pack until the appraisal came back, and then really hit it when the file came back from the UW the first time.  I did start going through drawers and closets and clothes and the garage and making trips to the goodwill.  Keep those receipts for your tax deduction!

Did you get a copy of your appraisal report?  If not you should.  I talked to my LO every single day and there is no way I could have gone 2 weeks without knowing what was going on . I need to know something constantly.  The appraisal report has pics and comps and all sorts of details about the house you would never know.  You paid for it, so you should get a copy.

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I was so sure my loan was going to fall through, I did not pack a thing until the night after closing... lol

-scott

[germaine47]

I closed on May 4th and I had the same insecurities and self-doubt as everyone else.  When I was going through UW I was so sure that they were making up reasons why I wouldn't be able to Close on my home.  I didn't really make arrangements for moving and transferring utilities  until I heard the words Clear to Close and everything made since.  I know in my heart if you have made it this far in the process your dream homes will become yours.  Trust that the MB will not get paid until you Guys get the keys take a deep breath and believe that all will go as planned.

[Familywantsahouse]

Yeah, our mortgage broker tells us every day we're fine, and I'm not packing a thing or scheduling movers until after we close.