topic Re: Frustrated... Back to waiting in Mortgage Loans

Frustrated... Back to waiting

Anonymous — Thu, 03 May 2012 02:11:04 GMT

So we are supposed to close on the 10th. Then today I find out the builder has changed the date to the 15th, but hasn't told anyone but themselves... Here is what happened.

We are new construction so we were supposed to get the occupancy cert ordered (according to the superintendent) on Tuesday (yesterday). We were also trying to avoid having to do a 442 reinspect on the appraisal, so we listened to the super and postponed it until today, which happened at 9:00 am. Unfortunately, the house still isn't done. They are still missing some external columns and don't have the landscaping in yet...

I get an email this morning as part of a chain from my LO and processor from FMC. Can't get the clear to close until we get the cert. In the thread of the email, I see the builders paperwork person say that the final cert should come on the 10th with close on the 15th??? What??? When did that happen... Oh and let me add, our rate is locked until the 12th.... grrrrrr

FMC is known for being very slow. So now I am freaked out. I called our agent and he got on the phone with the builder trying to push it to the 7th or 8th. The final cert then goes to escrow who distributes it out to all who need it, including the lender... I then call my LO for FMC and talk to her about the process. She said Appraisal happened today and hopefully the did all the comp work upfront. I was under the impression that that is the end of the appraisal report. She said nope, it then goes to AMC who handles reviews for FHA, then if they agree, back to us and the LO....

Once FMC recieves the Appraisal and Cert, we will get the clear to close. Docs are prepared and sent to escrow who will then prepare paperwork for signing. If they get paperwork before noon, we should be able to sign and get them sent off same day, but if not, it will roll over to the next day. Then escrow files paperwork with the County and overnights it to FMC who then sits on the completed paperwork a full 24 hours before funding. She said she has never had them do it quicker....

So, back to waiting... It is all out of our control, but I'm so upset with the builder for the delay. grrr

Thank you for letting me vent... Soon enough, I will have a beer in my new home!!!

Re: Frustrated... Back to waiting

Anonymous — Thu, 03 May 2012 02:37:11 GMT

I am stressed from just reading all of that : ( I am sure it will all work out for you! Just said a prayer : )

Re: Frustrated... Back to waiting

Anonymous — Thu, 03 May 2012 04:31:20 GMT

Thank you blessed!!! I really appreciate it!!

I know we have the house, I'm just tired of the waiting,.... Feels like it is one thing after another... Right hand doesn't know what the left is doing... But soon, soon, it will all be worth it...

I will now tell anyone buying a house is like child birth... Hurts like heck, but you soon forget the pain! lol

Re: Frustrated... Back to waiting

boomhower — Thu, 03 May 2012 08:49:38 GMT

It's a stressful process no doubt. Have you made sure the builder knows the importance of closing by the 12th?

Re: Frustrated... Back to waiting

frogfan12 — Thu, 03 May 2012 09:05:34 GMT

@Anonymous wrote:
Thank you blessed!!! I really appreciate it!!

I know we have the house, I'm just tired of the waiting,.... Feels like it is one thing after another... Right hand doesn't know what the left is doing... But soon, soon, it will all be worth it...

I will now tell anyone buying a house is like child birth... Hurts like heck, but you soon forget the pain! lol

True statement!

Re: Frustrated... Back to waiting

frogfan12 — Thu, 03 May 2012 09:06:07 GMT

@boomhower wrote:
It's a stressful process no doubt. Have you made sure the builder knows the importance of closing by the 12th?

Yes, May 12 is extremely important and the best day of the year no doubt. It also happens to be my birthday. Haha.

Re: Frustrated... Back to waiting

Familywantsahouse — Thu, 03 May 2012 11:06:52 GMT

Good luck!

Re: Frustrated... Back to waiting

Anonymous — Thu, 03 May 2012 12:24:55 GMT

Yes Boom, we have. I swear if I could fire my agent now, I would. I will also add, NO more doing business with friends ever!!! He seems to be working for the builder and us, and he is NOT a double agent... He keeps telling us to not tell the builder about the bad craftsmanship that we see and to let warranty handle it. Ummmm, NO... I get his point but I don't want to move all of my closets twice because they installed the wrong shelves. Do your dang job right, and frankly, I feel our agent needs to be fighting for us, not just moving along.

We did tell the builder and they are going to try. We know how slow FMC is (Shoot based on my score, I totally understand), so if they get cert next week, early in the week, we may be ok. LO also said that if the rate expires on the 12th (saturday), it will generally roll to Monday so she we should be ok.

I know I need to have patience, but it is so so hard... Oh and I also found out that we will NOT have to pay to extend the lock, the builder will, so that is nice.

Re: Frustrated... Back to waiting

Anonymous — Thu, 03 May 2012 12:52:09 GMT

@Anonymous wrote:
He keeps telling us to not tell the builder about the bad craftsmanship that we see and to let warranty handle it. Ummmm, NO... I get his point but I don't want to move all of my closets twice because they installed the wrong shelves. Do your dang job right, and frankly, I feel our agent needs to be fighting for us, not just moving along.

This would drive the guy from Holmes on Homes absolutely bonkers. Good luck, Cata. I'm sure all of this will be a laughable memory soon.

Re: Frustrated... Back to waiting

my25reasons — Thu, 03 May 2012 13:41:29 GMT

Hang in there, Cata. You've come so far! Too blessed to be stressed!

Re: Frustrated... Back to waiting

Anonymous — Thu, 03 May 2012 14:11:52 GMT

We are hanging in. I'm just a bleep on wheels to all involved. lol

I work in the engineering world and they are a little shocked by me. They actually told us that they only do 2inces of top soil in the back now because the City changed their standards... Ummmmm Sorry buddy, this isn't how that works. I actually got our site plans from a planner at this City and emailed them to everyone. lol

I'm sure they have some great nick names for me!

Re: Frustrated... Back to waiting

How2increase — Wed, 09 May 2012 23:42:38 GMT

Catacam close to having that cold beer? Any news yet?

Re: Frustrated... Back to waiting

Anonymous — Thu, 10 May 2012 00:34:56 GMT

Ha Ha.. How2increase... I was thinking earlier about send Catacam a shout out myself... Wonder what's going on...???

Re: Frustrated... Back to waiting

Anonymous — Thu, 10 May 2012 12:22:56 GMT

I'm still waiting.... We were supposed to close today but got into some snags.

Occupancy permit just got approved yesterday and the appraiser has to come out and reinspect because the house wasnt done when they said it would be. Plus, the UW made us send about 6 loe's regarding past credit and some other items.

The UW should be done with our conditions today, then hopefully recieve occupancy cert and appraisal by tomorrow. Then they have 24 hours for docs, then escrow, then 24 hour hard hold on documents. We could fund as early as Tuesday but we are thinking next Wednesday or Thursday!

Please send good ju ju our way that this all goes smoothly!! And quickly!!

Re: Frustrated... Back to waiting

getmycreditright — Thu, 10 May 2012 23:00:49 GMT

Cata,

What lender are you using? Were you able to get a good rate? I'm just trying to get some information because I am in a similar situation credit-wise (trying to get both my wife and I's scores up).

Re: Frustrated... Back to waiting

Anonymous — Thu, 10 May 2012 23:07:57 GMT

I am sorry you are having problems : ( ... The good news is that it sounds like it is only a matter of time for us both to close. We were set to close tomorrow but now it is being delayed due to USDA requiring a letter from me verifying that I do not contribute any income to the household : (. We already had a letter on file stating that I was not employed but they needed it worded diffrently to state that there is no additional income coming from anywhere like child support or SSI etc....

I feel extremely confident that we will close next week though.

Re: Frustrated... Back to waiting

Anonymous — Fri, 11 May 2012 12:25:09 GMT

Hi Getmy, We are using First Mortgage Corporation and we are getting a good rate! It has been a good process in all reality, just slow!!

Blessed, I agree, we both got this but I am ready to be done with waiting waiting waiting! lol