topic Re: 10 Days Until Closing in Mortgage Loans

10 Days Until Closing

EaglesFan2006 — Tue, 04 Sep 2018 12:18:47 GMT

We have 10 days until closing. Just sent over the final condition docs (bank statement showing 401k deposit as well as verification of 3rd IRS payment). It pretty much just leaves the seller obtaining the final CO (scheduled for tomorrow). Here's hoping there are no more curveballs from the lender or anything else. It has been a rough journey getting here, so I'm hoping for a smooth home stretch!

Re: 10 Days Until Closing

Anonymous — Tue, 04 Sep 2018 13:15:25 GMT

Best of luck. Just went through a closing that had more hurdles than the longest steeplechase! I feel your pain. Hang in there!

Re: 10 Days Until Closing

srob67 — Tue, 04 Sep 2018 16:49:31 GMT

Congratulations. We have 16 days to go, so far everything is going good for us.

Re: 10 Days Until Closing

EaglesFan2006 — Wed, 05 Sep 2018 12:06:45 GMT

@srob67 wrote:
Congratulations. We have 16 days to go, so far everything is going good for us.

Thanks! Emailed yesterday shortly after posting to confirm if they received them, as well as to let me know whenever the final estimate is ready so I can order the cashier's check...no response yet, and they're normally responsive so my nerves are going a bit here...but I'm going try my best to operate under the "no news is good news" ideal.

Re: 10 Days Until Closing

Anonymous — Wed, 05 Sep 2018 15:36:33 GMT

Take a deep breath, you've got this!

☺

Re: 10 Days Until Closing

EaglesFan2006 — Wed, 05 Sep 2018 18:05:24 GMT

@Anonymous wrote:
Take a deep breath, you've got this!

☺

Thanks, I am trying. More than 24 hours since I asked them to confirm receipt of document and still nothing...just adding to the stress level!

Re: 10 Days Until Closing

Anonymous — Thu, 06 Sep 2018 11:44:57 GMT

@EaglesFan2006 wrote:
@Anonymous wrote:
Take a deep breath, you've got this!

☺
Thanks, I am trying. More than 24 hours since I asked them to confirm receipt of document and still nothing...just adding to the stress level!

Hoping this won't be your situation necessarily, but for what it's worth, we just closed mid-August and did not receive the "clear to close" from the mortgage lender until THE DAY OF CLOSING! Talk about disconcerting! I never doubted we would get the C-T-C, I was more concerned about hitting the scheduled closing date. Our situation was made "interesting" by the fact that we relocated to a different city and state, and did not sell our existing home first - but our income supported it and we met our ratios. It is vacant and on the market, but now we own 2 homes; one of which is sitting idle and not making money for us, ugh.... But keep heart, it will happen - I do hope your confirmation comes before ours did!

Re: 10 Days Until Closing

EaglesFan2006 — Thu, 06 Sep 2018 11:54:19 GMT

@Anonymous wrote:
@EaglesFan2006 wrote:
@Anonymous wrote:
Take a deep breath, you've got this!

☺
Thanks, I am trying. More than 24 hours since I asked them to confirm receipt of document and still nothing...just adding to the stress level!
Hoping this won't be your situation necessarily, but for what it's worth, we just closed mid-August and did not receive the "clear to close" from the mortgage lender until THE DAY OF CLOSING! Talk about disconcerting! I never doubted we would get the C-T-C, I was more concerned about hitting the scheduled closing date. Our situation was made "interesting" by the fact that we relocated to a different city and state, and did not sell our existing home first - but our income supported it and we met our ratios. It is vacant and on the market, but now we own 2 homes; one of which is sitting idle and not making money for us, ugh.... But keep heart, it will happen - I do hope your confirmation comes before ours did!

That stinks! Yeah I've heard it can happen very last minute. That's my fear too is making sure we get our targeted closing date. My big concern is that my bank is an online one, so I need to order the cashier's check at least a day in advance for them to send it...so I really hope he can at least give me the closing cost estimate early next week.

I had sent the LP the last two condition docs on Monday and got the out of office message that he was out this week, so I sent them right away to the LO...I hope that the LO forwarded them to the UW and we aren't waiting for the LP to return...that would be incredibly frustrating, especially since I talked to the LP about the docs on Friday and they said nothing about being out this week.

In any case I sent a follow up email to the LO this morning asking if everything was still on track for the 14th as I have things like moving van and utility services scheduled.

Ugh, why does this part of the process have to be so complicated!

Re: 10 Days Until Closing

Anonymous — Thu, 06 Sep 2018 12:01:35 GMT

Agree - feels like this whole process is intentionally over-complicated.... And hearing your details regarding that blurred line between the LO and the UW, etc. etc., it's sometimes tough to know who's on first! You are certainly taking the right steps keeping the communication going. The one thing I will say is that our LO was very responsive / communicative. UW - not so much... ON THE DAY OF CLOSING, they were requesting information that could have been (but wasn't) requested the week prior! I mean, really?? Sheesh....

Anyway, hang in there, my friend.

Re: 10 Days Until Closing

EaglesFan2006 — Thu, 06 Sep 2018 12:03:46 GMT

@Anonymous wrote:
Agree - feels like this whole process is intentionally over-complicated.... And hearing your details regarding that blurred line between the LO and the UW, etc. etc., it's sometimes tough to know who's on first! You are certainly taking the right steps keeping the communication going. The one thing I will say is that our LO was very responsive / communicative. UW - not so much... ON THE DAY OF CLOSING, they were requesting information that could have been (but wasn't) requested the week prior! I mean, really?? Sheesh....

Anyway, hang in there, my friend.

Thanks! Our LO has been great at communication during the process, but not this week! I did get a two word response yesterday that had nothing to do with the prior questions I asked, so who knows! If I can get a simple 'yes' today in response to still being on track, i'll be happy.

Re: 10 Days Until Closing

EaglesFan2006 — Fri, 07 Sep 2018 01:58:37 GMT

Update... got the clear to close tonight! Not without one last glitch of course but I beleive (hope) it will work out and have no issues for our close on the 14th...

Can’t thank this site and this community enough. It is an INVANUABLE resource, and it has been for me for years, and long before this process. It’s been the single biggest resource for me to go from financial delinquincy to this point over a number of years. It’s the only place I ever look for advice about this, and the only place I’d suggest to anyone else.

This is a remarkable community, and I appreciate everything from the simple words of encouragement to all the advice that got me through everything. I know I will pay it forward on here as best I can, and I know I will probably need much more advice in the years ahead. Thank you all...I mean it. I couldn't have gotten here without you.

I hope this time in 8 days I can officially post in that September Closers post!

Re: 10 Days Until Closing

EaglesFan2006 — Fri, 07 Sep 2018 13:06:42 GMT

Ugh, spoke to soon perhaps...was copied on an email from selling agent saying they never received a mortgage commitment. I would've thought being cleared to close was suffice. It's always something!