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Established Member
Posts: 11
Registered: ‎05-08-2012
0

We finally closed!!!

We finally closed on 10/15/12 after going through what seemed like an eternity.

Here is at my journey:
A) Appraisal came back with repairs that we knew about but the bank said we have to get a repair escrow in order for the loan close. We say ok lets do it. Informed by numerous contractors that the job is too small we could really do it ourselves, so we submit an invoice for work we are doing and then an invoice/contract for the carpet. It gets denied by the underwriters who now say a licensed contractor has to do the work. After getting my agent involved we finally get a contractor to do the work.Crisis solved.
B) Lender said that we have to put up the money for the repair escrow $4250 if we use downpayment assistance.
C) Downpayment assistance said we were approved then at the last minute we were denied because there are repairs that are needed. Even we got the Deputy Director of the county involved and HUD who said I was approved, but because they cannot figure out how to write the paperwork up we were denied based on the house not my application. So I have to bring the downpayment money and remaining closing costs to the table.
D) Closing day finally arrives after 3 extensions and I have wired my money to the attorney early in the week,so I get a call from my agent the morning of closing saying that the house was broken into and the cabinets from the kitchen was stolen along with the granite and cabinets from the bathrooms.
E) The bank finally comes to agreement that they will make the repairs from the burglary and a date is set for closing.

 After all of the tears from everything that has happened above we closed and I survived it. My fico family thank you so much for your help and prayers. We got through it and please let our story be encouragement for you to keep pressing on for your dream home. 

 

 


Starting Score: TU-585,EQ-569,EX-542 (lender pull 1/24/12)
Current Score: UNKNOWN
Goal Score: 700 CLUB


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Frequent Contributor
Posts: 305
Registered: ‎07-05-2011
0

Re: We finally closed!!!

What a wonderful ending to a great story.  I love love your new home, Congrautulations.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Super Contributor
Posts: 6,502
Registered: ‎07-03-2007
0

Re: We finally closed!!!

congratulations

 

* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: We finally closed!!!

Omg and I thought my experience was bad. I'm glad that the bank decided to replace and repair the things stolen during the burglary...

Congrats on finally closing!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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MyFICO Fitness Goal: 800s Club!



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Valued Contributor
Posts: 2,789
Registered: ‎10-10-2012
0

Re: We finally closed!!!

That's great, Congrats!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 816 EX 780 TU 823
App free since 4/11/13
Contributor
Posts: 111
Registered: ‎02-05-2012
0

Re: We finally closed!!!

Congrats!!! Glad you held on.  The house is beautiful.


Starting Score: 595 2/5/12
Current Score: 650 midscore lender pull 7/24/12
Goal Score: 640

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Established Contributor
Posts: 921
Registered: ‎12-10-2011
0

Re: We finally closed!!!

Simply marvelous looking home.  So very berry happy for you:smileywink:


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

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Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011
0

Re: We finally closed!!!

that is an awesome story and even more impressive considering the fact the bank stepped up to do the right thing 

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