Mortgage Loans

[Watching]

Yes, we are waiting on the "PriorityBuyer" pre-approval letter... See that's what I don't understand... Well, I do understand there was a minor setback yesterday (that was really a setback from last Thursday) apparently a 30day late on a closed loan, that was taken off the report somehow showed back up on a 2nd pull they did to add our rent payments onto... So when she called me yesterday she had told me to send documentation from the loan company stating it was an error... So I called the loan company and she sent me the actual form that they sent each of the credit bureaus... She said she was going to send that to Rells to get it re-scored... but, she said that would take a couple of days... And I have quickly learned that a "couple of days" is a week to these people...

By this 30day late being added back on it dropped his score 3 points below where it needed to be...

[Watching]

Well... Processor e-mail last night and told me that needed an actual letter from the loan company (the actual form they sent to the credit bureaus wasn't good enough).. Luckily I was on the with the loan company requesting this when she sent the e-mail... So I sent the letter back to her within 5mins from the time she sent me the e-mail... I just got another e-mail from her stating she did get the letter and would send it to Rels ASAP for them to re-score... she said that Rels said it could take 3-5 days from the time they receive it... I just want to cry right now... this is just the worst thing ever... I really don't want to keep waiting... this is sickening...

[theholst]

Watching, I am in the same boat, only I got 6 days to close and still got to get the appraisal done, repair the faults, and appraise it again in that timeframe....

Its a long process that DOES NOT go smooth. Im on the edge of screaming at everyone.

[Catacam]

I'm with you guys on waiting. I at this point have decided that I cannot change anything, so I am trying to not freak out or over think anything. I feel like I have been waiting on the edge of my seat since Feb 1...

Hugs, patience, and understanding to all!

[Watching]

Amen... I'm right there with you.. I just don't see ANY reason why it should take 3-5 days for a re-score... I just want to bawl my eyes out right now... I've really tried to stay nice and possitive thru this whole thing... But, at this point I'm not feeling nice and/or possitive...

[theholst]

I had to do the re-score as well..... It took 6 days...

[Watching]

Well of course nothing yet today... When I talked to the processor yesterday she had told me that the 3-5 days really depends on them being able to get a hold of the loan company to verify.. Of course I sent the lady at the loan company a "heads up" e-mail yesterday... She sent me an e-mail back this morning that said she didn't hear from anyone yesterday and that if/when she heard from them she would let me know...

The processor did tell me yesterday that after we do this 3-5 days of waiting, we will still have to wait again for 48 hrs for the underwriting... Needless to say it sounds like it's going to be the middle of next week before we know anything...

[wally101]

Hope you hear some good news soon

[Watching]

Me too

[Watching]

4/29/12

Still waiting on the "re-score".. We did go out and talk to the sellers on 4/27/12.. Positive thing is, they told me we are the only ones they are talking to about the house.. They are really working with us to help us get into the house... They are going to talk to their bank tomorrow morning and we are going to try to get a purchase agreement signed this week.. They plan on telling the bank that either we move into the house or the bank is getting the house back in foreclosure..

The processor told me Thursday that she thinks once this re-score comes back everything will go really fast.. I just wish they would be more informative as to the steps in the process.. Seems like each time I talk to her I get more info.. At first they told me that once it came back from underwriting they would order the appraisal.. Now, the other day, she told me that they have to have a purchase agreement in order to order the appraisal... I'm so confused.. But, at least by us working on a purchase agreement then that will already be there as soon as this re-scoring thing comes back...