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We should be ready to go for closing on Tuesday, yay.
But as most of you probably know our transaction has been awful.
Basically Murphy's law has been going into effect with our transaction; whatever can go wrong will go wrong.
The loan package was sent to the lawyer's office today by our lender. The lender said we're ready to close.
What else could go wrong from now to Tuesday? I'm just want to prepare myself lol.
Can we really start packing this weekend ?
I would start packing, but as you said still be ready for "one more thing." They'll do that the day bfore closing, I've even heard stories of the day OF-- people not knowing from one hour to the next.
We had problems up until the day before, but at the actual closing things went very well and it was even FUN (we had a great Real estate agent and mortgage broker). Hope that encourages you a bit
The final loan numbers never match the estimate. My loan was also a 1/8 point higher on the closing papers. Had to call my broker in the middle signing with the notary. He said they had to use a different underwriter because the first fell through last minute. It was basically "take it or leave it". Still 4.75 was a good deal and the broker mailed me a check to cover the difference for five years.
The final loan numbers never match the estimate. My loan was also a 1/8 point higher on the closing papers. Had to call my broker in the middle signing with the notary. He said they had to use a different underwriter because the first fell through last minute. It was basically "take it or leave it". Still 4.75 was a good deal and the broker mailed me a check to cover the difference for five years.
Don't worry about this because it could never happen today with the new laws that went into effect January 1. The rate can't change and the 800 section lender fees can't change at all- not .125% on rate or 1 thin dime on fees.
Last edited by dad2jules; 04-03-2010 at 07:07 AM..
I would start packing, but as you said still be ready for "one more thing." They'll do that the day bfore closing, I've even heard stories of the day OF-- people not knowing from one hour to the next.
We had problems up until the day before, but at the actual closing things went very well and it was even FUN (we had a great Real estate agent and mortgage broker). Hope that encourages you a bit
Yup, start packing, but, it's not over 'til it's over.
My biggest nightmare was when the mortgage company wired the money for our mortgage to the wrong closing. It delayed our closing by 4 days. However, our agent (who has been doing this for over 20 years) said that was the first time she'd ever seen that happen.
*first aid kit, complete w/ smelling salts
*bottle of whiskey
*stretcher
*duct tape
*beenie cap w/ propeller on top
*recording of boisterous laughing
*all animals you own (if you don't have any, bring the neighbors, that will speed you along)
*if no animals, half a dozen kids ranging from 6 months to 4 years old (with drinks)
Of course, I am just having fun. Be sure you have a place to put your head for a couple nights if the closing does not occur and roll with flow. Most buyers that make it as far as you have, have minimal to no problems. If the underwriter has not done the final sign off, be sure to carry with you an envelope of your bank statements, paystubs, and anything else you may have faxed them in the past two weeks that could be misplaced, a crooked fax, etc.....keep your envelope in your car, so you can go directly to a fax if the call comes in.
Start packing, expect tension and then an all of a sudden sense of relief and joy.
Congrats to ya!! Enjoy it...it's *almost* over! Job well done!
Yep! We closed two weeks ago Monday and it was pins and needles 'til we had keys in hand. The sellers closed right after us and everything was done and funded within a couple hours. We moved the next day.
We'd been packing right along - as soon as we decided this was our time to buy a house, we started throwing stuff in boxes.
I am thinking happy happy joy joy good closing thoughts for you!
Don't worry about this because it could never happen today with the new laws that went into effect January 1. The rate can't change and the 800 section lender fees can't change at all- not .125% on rate or 1 thin dime on fees.
The rate only changed because the broker switched lenders. First lender fell through. I would rather pay an 1/8 than lose the house since time had already been stretched and there were other offers.
What could the new law do to prevent that?
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