My LO just notified me that my FHA refi will close on 10/16/12
I've been waiting so long. The approval wasn't hard at all, but apparently there are a lot of folks doing FHA Streamline Refis, so there was a delay...
Oh well, its been easy, just a long wait.
Anyone else working on one of these? What has your process been like?
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Congrats on your refi!
Mine is for an investment property without an appraisal. I wasn't allowed to roll any refinance expenses into the loan; so I do have to bring funds to the table.
I had to source deposits which were work expense reimbursements so that was easy. Also my car was totalled; so I had a 13000 deposit from the insurance settlement that I had to source. No big deal.
Its almost over and I cant wait!
The biggest delay was due tl the number of Fha.streamline refinances that are going on right now. My file was one of many that the loan officer was working on.
Mine is for an investment property without an appraisal. I wasn't allowed to roll any refinance expenses into the loan; so I do have to bring funds to the table.
I had to source deposits which were work expense reimbursements so that was easy. Also my car was totalled; so I had a 13000 deposit from the insurance settlement that I had to source. No big deal.
Its almost over and I cant wait!
The biggest delay was due tl the number of Fha.streamline refinances that are going on right now. My file was one of many that the loan officer was working on.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
@Anonymous wrote:Wow! Your car was totalled...thank God you are ok..
yes..lots of refinances happening bc of the flow rates
good luck and again.. Congrats!
All of the Damage to the car was mechanical. My husband was driving and ran over a railroad track that was faulty... The asphalt struck the undercarriage and pushed upward and shoved the AC unit into the motor, causing it to twist and seize. Unfortunately, Volvo motors and the torque converters are very expensive. The torque converter was not available via salvage or in the USA so therefore the car was totalled
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
@Anonymous wrote:Wow..that's a freak accident!
thank God no one was hurt..
good luck with everything
Delayed, They waited til yesterday to tell me that my non-purchasing spouse needed to be available tomorrow.
My exact response was. "My husband works in Arkansas, and he can't just pop in and sign docs then pop out. Sorry but he is unavailable" 
So we scheduled for Wednesday since he will be home tuesday night
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
@webhopper wrote:
Delayed, They waited til yesterday to tell me that my non-purchasing spouse needed to be available tomorrow.
My exact response was. "My husband works in Arkansas, and he can't just pop in and sign docs then pop out. Sorry but he is unavailable"
So we scheduled for Wednesday since he will be home tuesday night
Are you going through a credit qualifying streamline refinance like I went through (as in removing a coborrower)? We just finally closed on ours the first of September. We started the whole process in February. Everything was rolling along and got conditional approval in March. I then decided to pull the plug until June to keep my MIP rate the rate it is now, as opposed to seeing it go up more than double. We started the whole process over again in early June and just wrapped it up the first of September due to such a long backlog. But it was worth it as I got an even lower interest rate than I was given in March and my monthly MIP is still very low (.55%).
But before closing I had no idea both of us had to be there. We were doing this streamline in my wifes name so I figured I didn't even have to be there. But good thing I was there anyhow or we would of had to pospone. They needed me to sign off on docs from our old mortgage. Also, I didn't find out until an hour before closing that they needed a certified check for almost $2,000 to cover escrow. I eventually got some of this back (the overage after property taxes were paid) but it wasn't fun scrambling at the last minute to get them that check and waiting to get some of it back.
Signed docs today!
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Loan funded on the 22nd
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!