I'm like a kid in mid-December, waiting for Christmas … CAN'T WAIT TO MOVE APRIL 28!!!!! (North Port: credit, loan)

[neildiamond11790]

Originally Posted by jmqueen

Thanks, kids. Cardiff, wish I could provide a success story, but mine just got worse.

My buyer's loan, which we've been waiting on since the original closing date on Monday, fell through. He was pre-approved so we don't know what was going on. He's trying with another mortgage broker who is allegedly flexible and fast … but I have to have the funds by May 14 so I don't lose the Florida house.

My realtor says he's never had something like this happen in 41 years in the biz.

What a mess.

Cardiff, you must keep us posted because now I'm also terribly worried about that poor pregnant wife.

Pre-Approved or Pre-Qualified? If they were pre-approved it means they had a commitment from a bank contingent on finding a property, passed underwriting, and the housing payment being an estimate. Unless they are trying to borrower more than they were approved, or the housing payment increased (larger taxes than expected), something else happened. I would see if you can find out why, seems like a convenient way to back out of purchase "I couldn't get financing". Most banks using conventional loans have nearly identical guidelines, fed loans like FHA are the same, the only subtle differences in approvals is how much they want to stretch the guidelines.

Pre-Qualified means some guy wrote on a piece of paper they could afford it, had a banks letterhead on it, really means nothing in the end.

[jmqueen]

Yes, that must be it -- pre-qualified.

Theoretically my realtor is trying to find out what happened, but of course I haven't heard from him since this morning, so I will spend my third weekend hanging in limbo, waiting for something that never happens.

His mortgage broker told us for WEEKS that it was just matter of some paperwork here, resolve a glitch there. All of it lies, apparently.

No one will return my calls, no one gives a $hit, I'm just here to provide entertainment for these idiots who get to play with people's lives for fun.

[Cardiff by the Sea]

someone should have told the buyer not to purchase the big screen tv and home entertainment center until after closing.

Are you selling a condo? One thing that some banks freak over is the percentage of owner occupants. Has to be 51% owners. This is true for VA loans.

[jmqueen]

Originally Posted by Cardiff by the Sea

someone should have told the buyer not to purchase the big screen tv and home entertainment center until after closing.

Are you selling a condo? One thing that some banks freak over is the percentage of owner occupants. Has to be 51% owners. This is true for VA loans.

Well, according to the buyer's realtor late this afternoon, it's because he works for Starbucks and they're transferring him at his request to our area -- but the underwriter wanted a letter from Starbucks saying so, and they have a policy where they don't do that to avoid lawsuits.

At this point I don't trust or believe anyone or anything they say. They've all been lying to us all along.

And no, not selling a condo -- single family home.

[loves2read]

Surely the guy who works for Starbucks has a letter or email from his company about his transfer--whether they would issue a new one for the mortgage underwriter or not--
he can't be doing this w/o some type of written confirmation from his company...

[jmqueen]

Originally Posted by loves2read

Surely the guy who works for Starbucks has a letter or email from his company about his transfer--whether they would issue a new one for the mortgage underwriter or not--
he can't be doing this w/o some type of written confirmation from his company...

Damn, that is an excellent point.

You know, I've had it up to here with the lies, deflections and delays. I'm going to do the unthinkable-- I'm gonna call the seller and find out exactly what's going on, because I don't trust his realtor or mortgage broker as far as I can throw them.

It may not be the "done" thing, but I'm past caring. We're the only people who care about us. Our realtors are waiting for a check, but we're the ones sitting around in empty houses with our entire lives on hold.

[Cardiff by the Sea]

You go.

Waiting with bated breath to hear what you learn.

[Obrero]

Originally Posted by jmqueen

Damn, that is an excellent point.

You know, I've had it up to here with the lies, deflections and delays. I'm going to do the unthinkable-- I'm gonna call the seller and find out exactly what's going on, because I don't trust his realtor or mortgage broker as far as I can throw them.

It may not be the "done" thing, but I'm past caring. We're the only people who care about us. Our realtors are waiting for a check, but we're the ones sitting around in empty houses with our entire lives on hold.

Good for you. I'd call too.

[jmqueen]

Well, what an interesting morning.

Right after I posted here, I got a phone call from the new mortgage broker. The idiot broker who messed up everything handed it off to someone outside his company THANK YOU LORD. I had told my realtor I wanted direct contact going forward because I was tired of the "Any day now" third-hand reports, followed by days of silence, followed by the big let-down on Friday afternoon.

And she called! She seems sharp as a tack, hinted that this isn't the first time she's put out a fire for this mortgage company, and said she would "do what we have to" to close on May 14 -- just in time to wire the funds to Mr. Psycho Seller by the extended deadline of May 15. Her company doesn't care about a letter from Starbucks, plus she's already run the basics by HER underwriters and they said it's doable. No going out of house to somebody somewhere far, far away.

She promised to update me regularly, since I explained that never knowing the details until everything goes to hell on Friday at 5 pm was unacceptable to my cardiovascular health.

I am breathing again!

So then hubby and I sat there trying to figure out the new logistics of closing here on May 14 and FL on May 15 … then gathering one college student from her dorm on Long Island on Friday, May 16 and hitting Boston for oldest's graduation on May 17.

We already have plane tickets because we thought we'd have been in FL for two weeks by that time. But even if we drive down before the closing and move into Motel 6 with our cats, we couldn't leave them alone in a hotel while we head back up north. And it would be tricky to get the keys on Thursday morning in time to make flights out of Fort Myers at noon.(Hubby to NY and Daughter #1, me to Boston for a company meeting followed by hubby and D#1 meeting up in Boston for D#2 graduation…. yes, it was complicated as hell to begin with.)

SO we decided it would be easiest if somehow we could stay here right through that weekend and THEN move. I called the landline phone# I found for the buyers on the Internet, having met them once and thinking they are really nice people. No answer and no way to leave a message, so I went to Facebook, found her, and paid $1 to send a message to her inbox even though we're not friends.

Just as my realtor is walking in the door to discuss all the new developments, my phone rings and it's Elsa, one of the buyers. She's terribly sorry for what this has put us through, terribly grateful for our patience, and more than willing to let us stay in "their" house for five days or so!

They have a 10-year-old daughter, and they weren't planning on moving in until after school gets out anyway!

Now I just have to try to get the airline to refund some of the cost of those tickets, and cross fingers that Stacey the Competent Mortgage Broker can do what she says she can.

I can breathe again.

[Cardiff by the Sea]

Mail away closings? I find the in person closings in Florida both quaint and antiquated.