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I'm closing on Monday and still haven't gotten my HUD statement. Is this normal practice? Should I be worried? The realtor said when she gets it she will go over with me but still I'm worried. Should I call the attorney today or tom to see what's going on? I am so anxious about closing on Monday and having everything ready and complete so there are no delays.
Many times Realtors and attorneys receive PRELIMINARY settlement statements because Title copies them as they go back and forth with the Lender to finalize things. Then, mass confusion as you think you have received the official Final one, and your lender swoops in after that with the actual final one.
Unfortunately, it is all too common to get your settlement statement the day before closing.
My realtor keeps telling me she is waiting to hear from the attorney. I emailed the attorney tonight to see what's going on. The lender told me a few days ago that he sent the information to the attorney on that day which was Monday I believe.
When you say the day before closing, do you mean the business day or actual day? Because the actual day would be Sunday...
The three-way-dance you are dealing with can be very frustrating. Maybe adjust your expectations, time wise, and open everything else up to the possibility of adjustment.
Contingencies cure stress, at least a little. If the lender, indeed, sent Closing Instructions (use that term) to Title/Attorney, at least you are approved and that part is over. Now it's getting people to care as much about closing on time as you do.
Thanks for your help. I'm in NC. The attorney sent me a preliminary draft of the final settlement statement tonight. So is this the amount I would get the cashier's check for tomorrow? Or should I wait until Monday morning before closing to get the cashier's check?
I'd wait til Monday morning because I don't want a freaking Cashier's Check floating around that I might lose, intensifying my weekend pre-closing stress!
The pre-closing compliance process has become an unbelievable burden to many lenders. Your file is ready, but so many items on the clear to close checklist have choked many a lender. Ideally, getting your final HUD just before closing shouldn't happen, but it's not uncommon at all. (I left a company because the couldn't get this process fixed).
You can get a Cashiers Check for the amount from the preliminary amount. Title co will either refund the difference if it goes down or you can write a check for the difference if it goes up.
Day before closing would be great! I close a purchase in 2 hours and 45 minutes and still don't have my settlement sheet -- nor will my bank even give me an amount for my cashiers check. I'm just going with the GFE number and we'll see what happens.
I received mine at 3pm when I was closing the next day at 9am. It was less than expected which was good, but I had to rush to get to the bank before closing.
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