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WTF is right(long)
So I know that I have been on here in awhile. Baby and Moving has had me a bit busy, but I really need to vent. We were supposed to close on our new house in TX. The lender sent us an email last Friday with the green light to close on Tues morning. Tues an hr before closing we got 2 very strange requests from the lender - one of which was proof of an check clearing that they sent us from the sale of my last house (They are the same lender as the mortgage on my old house). Um... I would think they would know if the check closed and even so, why does it matter. They haven't given us any real answer and have said that we will close, they just don't when. Mind you both DH and I have 800+ credit scores and were putting 20% down and still have savings in the bank.
Best we have been told by the mortgage broker is the since it was a small lender (who typically gives great rates for well-qualified buyers), is that they don't have the cash to close and are just dickin' us around until they do.
Pisser is that we are living in a hotel and DH's parents flew down to help us move. All our stuff is in storage and we keep having to call the movers and move the move date. Builder is now charging us $150 for each day past our closing date.
This is a complete Cluster-F of epic proportions. We are now switching lenders and starting over with someone who claims that they can close us in 7 business days. We are beyond frustrated, pissed, you name it. Our broker has been hung up on numerous times by this lender. We never expected that this would/could happen.
I am now flying back to Atlanta so that grace and I can have some semblance of normalcy. It is cheaper and living in a cheap motel for a week with nothing to do and 90% of our stuff in storage wouldn't be fun.
Sorry this is so long. I just needed to vent about this. No wonder the housing/mortgage industry is struggling so much. Good People can't even buy a house.
Re: WTF is right(long)
Kristi, I am so SO sorry. That sounds awful, and has to be super disruptive to you and Grace. I don't blame you one bit for being livid. I really hope this new lender comes through and gets things done quickly!
When it's all done, please share pics of your new house.
How awful! Better to be here than in a motel with a tiny baby. Hopefully things will get squared away quickly and you can get her settled in her new home!
It's really scary that qualified buyers can't get loans. My MIL just had a similar issue when closing on her new home, and she was putting down more than 20% and has plenty of savings. Her problem at least arose a few days before rather than the day of. Her builder was going to let her rent so she could at least get into the house (DH had flown up to PA to help supervise the movers) and then the builder ended up being the lender so the sale could get closed and then they'll sell the loan to a bank.
sorry you are having to go through this!!!
we sure have missed you around here!
Southeastern Cycling
My Nest Bio and Cycling Advice
dude. That is just crazy. I have never heard of anything so odd. Maybe its a blessing in disguise and you're not supposed to be with that lender.... I'm stretching for a silver lining here ...
Good luck!
Call me Kat =^..^=
How frustrating! I hope it gets worked out quickly so you can get back to life. Grace is adorable!
On another note, my sister just moved to Arlington, Tx last week. Let me know if you need a friend!