Buying A Home
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Need to push back closing

How common is it for the closing date to be pushed back? We're waiting to hear from the seller to see if they are even willing to push it back, of if they are just going to issue a time of the essence.

We are going to miss our closing because our mortgage is STILL not approved and the lender didn't even BEGIN to review our application until AFTER the first commitment deadline.

How common is this? Our sellers can't push it off too long or else they will be in foreclosure. I'm in such a panic that we will lose the house just bc the mortgage took so long. : (

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Re: Need to push back closing

  • I would make your realtor fight to get that resolved.  My realtor would.  On our current home that is in escrow, our buyers said they may have a loan delay and we have no problem at all with the delay.  Personally I'm fine for an additional 30 days max.  But if it's pushing them into forclosure, you obviously have a bigger problem and your realtor should handle it.  GL!
  • What is her REA going to be able to do to expedite the poster's loan being approved?  The REA does not deal with the lender--the poster should be calling the lender to find out what is causing the holdup. 

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  • You need to start pestering your lender.  My loan was delayed, and I started calling and - NICELY - hounding them to get things moving.  Once they realized I wasn't going to go away, they got it done within three days.  Start lighting up the phones.
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  • My REA must be different then because they actually call up the mortgage companies and put a rush on things and find out what issues are... assuming they are granted the permission to do so by the seller/buyer.
  • Thanks for your responses! To answer your questions, we HAVE been calling at least weekly to get an update on the loan, the ball wasn't dropped on our end. We submitted the paperwork in the middle of September and our loan officer has LIED several times about the status of the loan, so our attorney and REA and us never had the real story on what's going on until this week.

    We are finally speaking directly to the loan processor, so we now have an accurate time line. It is BEYOND frustrating to have done everything on our end early and have such an incompetent person handling our loan. And so nerve wracking to be so close to getting this house. I just can't wrap my head around losing it because of one idiot. :(

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