10-20-2012 09:49 AM
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.
10-20-2012 01:41 PM
10-20-2012 04:09 PM
10-27-2012 06:41 PM
Simply marvelous looking home. So very berry happy for you
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.