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I have been in the process of qualifying for and getting a home now for over 50 days. Original mortgage broker said "you should be no problem whatsoever" Well after 30 days they came back with 37 conditions and wanted 5% down for a VA Loan. Went to a different company and they got me "approved" but communication has been less than optimal. Got told on a friday morning (Oct 26th) that I would be signing docs as soon as they were received and that I could use a mobile notary or go to the escrow office (over an hour away) this was at 9 AM. Well come 2 PM I hadnt heard anything so I called the LO and she said they were being sent over right now and that I would have to go to escrow but she would call me back in 10 minutes to make sure. By 3 PM she still hadnt called and I left for escrow got there and found out that I had blindsided escrow by showing up and they just got the docs about 5 minutes before I got there. Is this normal?
No, not usually. I have found that those types of closings sometimes happen with bank owned (REO) properties. Their title companies are generally the worst and they rely on mobile closers/notaries who know nothing about the transaction. Even if you use the escrow co they don't provide the paperwork on time - its always a last minute rush. Did you purchase a bank owned property?
@Anonymous wrote:I have been in the process of qualifying for and getting a home now for over 50 days. Original mortgage broker said "you should be no problem whatsoever" Well after 30 days they came back with 37 conditions and wanted 5% down for a VA Loan. Went to a different company and they got me "approved" but communication has been less than optimal. Got told on a friday morning (Oct 26th) that I would be signing docs as soon as they were received and that I could use a mobile notary or go to the escrow office (over an hour away) this was at 9 AM. Well come 2 PM I hadnt heard anything so I called the LO and she said they were being sent over right now and that I would have to go to escrow but she would call me back in 10 minutes to make sure. By 3 PM she still hadnt called and I left for escrow got there and found out that I had blindsided escrow by showing up and they just got the docs about 5 minutes before I got there. Is this normal?
is this through a bank (REO) or a normal seller? Have you been under contract before and how were you able to get out of them? I would probably fire the LO and try to find a way out of the contract. Try to use someone local and stay up there butts.
No it was a normal sale, a new construction that was part of their inventory. My first loan didnt get qualified like I had planned so prior to signing I turned it down and went with the lender that the builder normally uses and I have not been too impressed with thier service. My mid score is 641 and for some reason I have had a lot of problems getting qualified.
Have you looked into FHA?