January/February closers! Where are you at?

[Tooliebell]

Appraisal review has been done! WHEW!!.  Appraiser needs to come out and check the barn repairs and we have to wait for the water/septic/lead test results to be delivered.  IF those come back next week, we should have time to close.  Man, this is finally happening, I think!

[lpayton]

MBOhio...Man I am sorry, that really sucks.  If it makes you feel any better, my scores also plummeted after I got pre-approval due to a couple old collections being re-sold and re-reported..it TANKED my score (Over 100 point loss).  I freaked out..but found out that my bank does NOT do another pull as long as you close before your original credit report used for the pre-approval is no more than 120 days old.  Some places go by 60 days, some go by 90.  I am in Oregon, and my lender is Wells Fargo.  I have not closed yet, but I have been told 200 times by the loan officers, and the processor that they ARE NOT going to do another pull prior to close....hang in there it may work out. 

Also, you can use the Booner method:..(it works)...start emailing, faxing, calling, and writing every person in that office and BEG for forgiveness and a GW adjustment...it can't hurt.  They are humans too, maybe they will work with you. 

Last, this advice is easier given than taken...this process is hard enough as it is.  You  have to tell yourself if it doesn't happen now, you will just try again in a couple months.  I have finally gotten to a "good" place with this...and I have MADE myself accept that purchasing a home doesn't have to happen NOW, just as long as it happens when it is RIGHT, I will be fine. 

I hope this helps you.  FIngers crossed!

[lpayton]

I hope the appraisal goes fast and well for you Toolie!

[PixieQueen80]

I don't technically qualify for this thread but I will join my friends to offer support and send good luck vibes. 

ToolieBell - Things seem like they are speeding up now.  Keeping my fingers crossed that they remain the same.

Holly1221 - The appraisal can technically be back in less than a week once it is done so I think you will be able to close.

MBOhio - Do you have a lot of time left on your credit report?  If I was you I would try to close as quickly as possible (it is not always up to us when we close of course) so as not to have to a re-pulled.

[Anonymous]

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@Tooliebell wrote:

Appraisal review has been done! WHEW!!.  Appraiser needs to come out and check the barn repairs and we have to wait for the water/septic/lead test results to be delivered.  IF those come back next week, we should have time to close.  Man, this is finally happening, I think!

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I'm peeking in on you guys because some are here from the December closings thread trying now for January.  I am cheering them and everyone else here on! Tooliebell I'm getting excited for you.  I am seriously hoping next week brings you plenty of good news and I'm sending closing vibes your way because I think you are close my dear.  I'll be watching here for updates.  Can't wait for you to close and have your house.  You have been working so hard and have remained determined so I know you will do it!

[Anonymous]

Hoping and PRAYING to be closing JAN 5,2012  AFTER The LONGEST "SHORT SALE" Ever !!

We put in an offer on a home on a Dream block that we couldn't have ever afforded before at the end of July..  The Short sale Process turned into a Hafa Short sale for the seller August 1st :smile:  (being sarcastic here )... We waited countless months for her approval letter to forgive her debt.

We had gone through the underwriting portion but no locking in rates or getting appraisals because the lender wouldn't do it until he got an approval . December 16tth comes around and guess what ? They say that we have until Jan 5, 2012 to close on this home. This includes holidays, weekends and those Celebrating Mondays...

The appraisal Report just came back Thursday December 29th.. and low and behold, they want a freaking SHED and some other peeling paint on the back repaired, replaced, painted etc.. in the middle of Winter.. in Chicago.. Yes.. and the "Appraiser" Estimated the Cost of $1500.. So.. Who will come out now to do that before closing and have the appraiser back to OK This before Closing  ?? No one.. Now we're having to find a painter who can view the photos..give us a bid.. so that we can put 150% .. Yes 150% into an Escrow acct to have it repaired when the Weather breaks

ohh I almost forgot.. via the emails.. My lender says he was opening an escrow acct on December 29th and we should have a CLEAR TO CLOSE on Monday JAN 2,12.. Guess what ??  BANKS ARE CLOSED JAN 2, 2012 ~~~ .. So.. Now we're just hanging by a thread..

Back to panting.. This has been a LONGGGGG Process..

Flew my kids to my mom and sister for Christmas break so that we could take care of this (and they wanted to go) and was hoping to be there before they came back Jan 8th.. keeping fingers crossed

Jan 5th 2012  is our closing date and hoping to sign papers that day !  Never to do business in a "SHORT SALE" again

[Holly1221]

Update:  My realtor met with sellers today & they have agreed to replace the roof!  I can't believe it!  They've already installed a GFI that was needed & went & bought pellets for the pellet stove that the inspector couldn't get to work so they could have it all ready for us!

We will schedule the appraisal later this week when we get all the paperwork in order for the roof replacement so the FHA appraiser will know it's already being taken care of. 

Now I'm getting nervous again!  Have to build my bank account back up after paying for 2 appraisals & 2 inspections! 

[Anonymous]

Good news Holly, good luck!

[Tooliebell]

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@Anonymous wrote:

Hoping and PRAYING to be closing JAN 5,2012  AFTER The LONGEST "SHORT SALE" Ever !!

We put in an offer on a home on a Dream block that we couldn't have ever afforded before at the end of July..  The Short sale Process turned into a Hafa Short sale for the seller August 1st :smile:  (being sarcastic here )... We waited countless months for her approval letter to forgive her debt.

We had gone through the underwriting portion but no locking in rates or getting appraisals because the lender wouldn't do it until he got an approval . December 16tth comes around and guess what ? They say that we have until Jan 5, 2012 to close on this home. This includes holidays, weekends and those Celebrating Mondays...

The appraisal Report just came back Thursday December 29th.. and low and behold, they want a freaking SHED and some other peeling paint on the back repaired, replaced, painted etc.. in the middle of Winter.. in Chicago.. Yes.. and the "Appraiser" Estimated the Cost of $1500.. So.. Who will come out now to do that before closing and have the appraiser back to OK This before Closing  ?? No one.. Now we're having to find a painter who can view the photos..give us a bid.. so that we can put 150% .. Yes 150% into an Escrow acct to have it repaired when the Weather breaks

ohh I almost forgot.. via the emails.. My lender says he was opening an escrow acct on December 29th and we should have a CLEAR TO CLOSE on Monday JAN 2,12.. Guess what ??  BANKS ARE CLOSED JAN 2, 2012 ~~~ .. So.. Now we're just hanging by a thread..

Back to panting.. This has been a LONGGGGG Process..

Flew my kids to my mom and sister for Christmas break so that we could take care of this (and they wanted to go) and was hoping to be there before they came back Jan 8th.. keeping fingers crossed

Jan 5th 2012  is our closing date and hoping to sign papers that day !  Never to do business in a "SHORT SALE" again

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We had to do repairs to a barn that is on our property.  A couple windows were broken, and some older lap board type siding was falling off.  The appraiser put an estimation of cost at $1000 for those repairs.  We said we would do the repairs because the seller is out of town for quite a few weeks.  Then the bank said we had to prove the resources to do the repairs, which meant show them we had an extra $1000 to do the repairs.  What we ended up doing, was doing the repairs, and signing an addendum to our PA which states, "Repairs done with seller's materials and no labor costs". 

Is there a way you could do the painting yourself and file this type of addendum?  We have to have the appraiser inspect the repairs and give us the clear, which I have heard only takes a few minutes to write up the report and send it over electronically.  I would think if YOU could do the repairs, this will go much faster.  Not sure you will be able to close by the 5th if you have to have someone else do the repairs. 

Hope that things work out for you.

[Anonymous]

hi there!! That sounds Great! the only "but" here is that we should've been able to do that if the appraisal had come back say 2-3 weeks earlier .. He came back with the report 1 day prior to New Years Eve ( the short sale has to close on or before Jan 5) .. Add to this,, It's 13 degree's today in Chicago,IL.. there is no way we can scrape, prime and paint a shed and some other parts of this victorian home and have the inspector come back out to get us the OK (at another $350) .. We're going to just pay the $1500 into Escrow as I don't want to give him another Penny. He knew when he received the order for the appraisal that we needed it back in a timely manner and he waited until the last minute to return it (that we were dealing with a short sale etc) ..

Yesterday was a holiday in the banks eyes.. hoping for good news today .. Packing up things yesterday Good luck to you. Sounds like you have a little more time on your hands to close Good for you !