Agree with some but not all the remarks. There are so many different issues that can arise but in my sales experience it has been appraisals in the last year holding things up. Even "wording" can affect closing dates with underwriters, lenders, etc. The title companies have had to adapt to many new regulations, so not remembering all I've just read...ask your title company if they have any issues with the closing process. After the title policy comes back it's usually a quick set up time to close. Feel for you Brother and good luck!
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Originally posted by kingranch View Postthe problem could be your credit that their underwriting team is having trouble approving..if this is the case u will likely have the same problem elsewhere. There is even tighter regs now... I just closed on my house a few months ago and I have credit in high 700s with tons of good accts on record. They usually will hold up if you have had any discrepancies in your work status or tax returns in last 2 yrs...even if its minor
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No way they can close on the 28th without having the appraisal/survey already done.
Drop them, I would have quick. The timing issue is a big problem but the bigger problem, in my opinion, is the dishonesty.
You've gotta know who you're getting into bed with before you jump in. That goes for this lender and the next one you may go with.
I would never give my business to a dishonest person (unless by accident, of course) and if I did and had a chance to back out, I absolutely would.Last edited by HoustonHunter; 10-18-2016, 07:31 PM.
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We are in the process of selling and buying. Schedule to close on sale of our house on Thursday and that will be 6 weeks from contract agreement. We cut it too close on buying our new house with contract and appraisal. Hoping to close in under 6 weeks from filing the contract. Fingers crossed!!!!!!! Coach
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Got word back from lender today that appraisal came back @ the same ridiculous $99 sq. ft., which can't be done here for a plain home on a small lot, much less a fully custom home on almost 2 acres. I'm dumping the lender (who I told from the beginning the appraiser was incompetent, didn't know our local market & didn't even have access to sold homes for comps) & starting over. I should've dumped them from the beginning, with the first lie, when she told me she wasn't required to provide me w/a Loan Estimate because it was a 1 time close loan (it's a government mandated form that they are absolutely required to give to every borrower w/in 3 days of submitting an application for credit for mortgage). Also lied & said it was against the law to get a different appraisal, but today said they'd get a different appraisal. WHAT??? Lied about doing the 1 Time close. Lied about closing time-frame. And the list goes on! Wasted 107 days & money just to be strung along & lied to. First United in Dallas was horrific, specifically loan officer Anna. Someone on here recommended her but hopefully everybody else will know the service I got & avoid the headache we've had. Total train wreck!
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Originally posted by LFD2037 View PostGot word back from lender today that appraisal came back @ the same ridiculous $99 sq. ft., which can't be done here for a plain home on a small lot, much less a fully custom home on almost 2 acres. I'm dumping the lender (who I told from the beginning the appraiser was incompetent, didn't know our local market & didn't even have access to sold homes for comps) & starting over. I should've dumped them from the beginning, with the first lie, when she told me she wasn't required to provide me w/a Loan Estimate because it was a 1 time close loan (it's a government mandated form that they are absolutely required to give to every borrower w/in 3 days of submitting an application for credit for mortgage). Also lied & said it was against the law to get a different appraisal, but today said they'd get a different appraisal. WHAT??? Lied about doing the 1 Time close. Lied about closing time-frame. And the list goes on! Wasted 107 days & money just to be strung along & lied to. First United in Dallas was horrific, specifically loan officer Anna. Someone on here recommended her but hopefully everybody else will know the service I got & avoid the headache we've had. Total train wreck!
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