closing on my house 4/17/20 but...

[serpentracer]

I think my lender is playing games with me.  so I am what, a week and a half away from closing.  I was told I'm approved and final approval will happen by friday.  4/10/20. so at 11 am I got an email from my mortgage loan processor says the I assume the lawyers or underwriters have been trying to contact my employer but no one answers.  is the number xxx xxx 2350?  I respond no, it's XXX XXX 2354.   I'm looking all through my loan application and all other paperwork.  no where on them is the phone number listed as 2350.  

this shit is really starting to get on my nerves.  they have all of my bank statements showing a deposit from my employer every friday. clearly shows their name.  If they cause me to miss my closing date I'm going to chew their asses. 

why is buying a house such a fucking pain in the ass like this?  these people want all this paperwork and don't even use it to look at to answer their own questions. they just stop what they're doing toss it back in a folder and email my loan processor.  it doesn't occur to them they're calling the wrong phone number?  look at the paperwork, lazy mother fuckers!

 

thanks for letting me vent.  I feel better.  I was going to email this to the loan processor.  but I better not lol

Edited April 8, 2020 by serpentracer

[JustinNck1]

Oh man I feel your pain. Same thing happened to me which pushed back my close date, which then required new pay stub documentation because they were too old. Buying a house is such a pain in the ass, but’s it’s worth it when it’s all over and you got your house.

[Tpoppa]

An experienced real estate agent makes a big difference.  Part time hobby agents not so much.

[Shoop]

Mortgage loan officers are drama queens and SADISTS!!!

I've bought three houses in my history and then did second mortgages on the last one twice. Every time the loan idiot has found a last minute problem and says that they're not sure we'll be able to close on schedule. 

The most upsetting time was when we moved here to PKB. Our stuff was in a commercial moving truck and the family arrived in the minivan. On Thursday before closing with move-in set for Friday, the loan officer called the agent (because I was on the road) and said they just now looked at the inspector's report (that was done a month before) and noticed a comment that the house  is on a hill. DUH - it's West Virginia. The bank had just had a house owner in a different neighborhood, on the other side of town default on their mortgage because the house was slipping down the hill. That neighborhood and the guy that built there was notorious for slippage problems. So, they said we couldn't close. The truck was going to unload the next morning. Fortunately the realtor was a real pro, and worked her ass off. She found the excavation guy that did the foundations eight years before and he wrote a letter to explain that the whole foundation was on undisturbed soil. The bank was still being idiots, but with that letter I felt confident so I signed a letter that said that I would never default on the loan no matter what. My house is still free of slippage, 25 years later. I refinanced the loan about 8 years later, when rates were low in 2003 or so. Did the free application at that same bank but then told them why they were not going to get my business. Unfortunately, the refinancing bank loan people were also idiots. 

Best of luck. Just look at it as an endurance test. It will be worth it.

Chris

[motocat12]

For my equity refinance loan @ a credit union I ignored their document requests until they finally sent a message that I was approved. Lol, monthly stats?

[serpentracer]

I just want everything set in stone.  I don't want to tell my current landlord I'll be moving and be gone by the end of April then have the bank drag their feet and if the place gets rented out I'm living in a hotel with my stuff in a uhaul.  I just don't want to have to pay another months rent($950) just for a few days of living here. The idea was to have 2 or 3 months of rent free living before the first house payment is due.

So I have not told my landlord I'm moving for sure. He thinks I'm staying here for may also.   He is aware I'm under contract and knows about the closing date.  But not my plan to get out by the end of april.  I told him may since I wanted to do some painting and give me time to pack up etc.  But I'm done with packing.  Should only take a few hrs to move at this point.  But now I'll have to get everything done in 1 weekend.  Which I wanted to avoid.  Especially now that moving companies probably not working I'm fucked.  

Edited April 11, 2020 by serpentracer

[jbot]

Moving companies are still operational as far as I'm aware. I have one booked for later this month.  I'm in the Cleveland area for reference. 

[serpentracer]

7 hours ago, jbot said:

Moving companies are still operational as far as I'm aware. I have one booked for later this month.  I'm in the Cleveland area for reference. 

I knew some of them were because the lady that moved in the building next door had them last sunday.  but, she probably booked it a month or so ago.

I'll probably have to do mine.  they quoted me $2k when they seen a picture of my garage lol.  3 large tool boxes, air compressor, workbench, motorcycle lift table, tire changer.   though the stuff isn't that big of deal. it all has wheels.  as long as they bring a lift gate truck it can be rolled right in.

 

Edited April 11, 2020 by serpentracer

[snot]

Gyms are closed... I bet some weight lifters would do it for the work out.

[serpentracer]

so just read something that pretty much confirms my suspicions.  everyone tells me I'm too negative etc.  I tell them they're too gullible. looks like my suspicions of the bank purposely dragging this out longer and longer to see if i'm still employed is spot on. that's exactly what lenders are doing right now. i'm even going as far to say theyve been in contact or trying to, with the government to make sure my profession is deemed "essential" 

this article proves my suspicions in the 2nd paragraph.  this is exactly what they did to me. my employer had to fill out special paperwork and everything then fax it back.  no one has ever heard of this that I've asked.  even my realtor. now I'm being told this may take another few weeks past my closing date.  the shit is pissing me off.

  https://www.housingwire.com/articles/lenders-get-stricter-as-some-borrowers-think-they-dont-have-to-pay/

Edited April 12, 2020 by serpentracer

[snot]

Is there anything you can do? Find another bank or credit union? Can you file anything against them for causing a hardship? A BBB review or complaint?

[redkow97]

I’d at least call them and ask THEM to tell you that you’re not wrong. 

Or email, so you have it in writing. 

I understand that they’re trying to protect themselves, but that’s a bullshit strategy.  Certainly not ethical. 

[serpentracer]

well I called them it's just a new normal for now.  but I've been approved and closing date is still a go.  I was told how much closing costs will be and It's safe to start my utilities etc. so that's what I've been doing today while "working" lol.    

[Uncle Punk]

On ‎4‎/‎11‎/‎2020 at 9:47 AM, jbot said:

Moving companies are still operational as far as I'm aware. I have one booked for later this month.  I'm in the Cleveland area for reference. 

Where the fuck you think you're going?

[jbot]

3 minutes ago, Uncle Punk said:

Where the fuck you think you're going?

haha just moving from concord township to pepper pike so not a big move.   my 2 little kiddos are almost old/smart enough where the quality of education will really start to matter and I'm too much of a cheap POS to send them to private (well... not really, but I have my reasons).  hopefully everyone in pepper pike is still alive when this thing is over....  apparently, it is one of the highest concentrations of COVID infections in Cuyahoga county.  fuuuunnnn

[Uncle Punk]

2 hours ago, jbot said:

haha just moving from concord township to pepper pike so not a big move.   my 2 little kiddos are almost old/smart enough where the quality of education will really start to matter and I'm too much of a cheap POS to send them to private (well... not really, but I have my reasons).  hopefully everyone in pepper pike is still alive when this thing is over....  apparently, it is one of the highest concentrations of COVID infections in Cuyahoga county.  fuuuunnnn

This is an acceptable turn of events even though this wasn't overly discussed and pondered publicly.

[SpecialEd]

For those of you who may be unaware, Pepper Pike and its neighbor, Hunting Valley, are two of the wealthiest areas in the entire state. Good for you, Mr. Rich Bastard.

Edited April 14, 2020 by SpecialEd

[Tonik]

4 minutes ago, SpecialEd said:

For those of you who may be unaware, Pepper Pike and its neighbor, Hunting Valley, are two of the wealthiest areas in the entire state. Good for you, Mr. Rich Bastard.

Says Mr. Chagrin Falls.

[SpecialEd]

5 minutes ago, Tonik said:

Says Mr. Chagrin Falls.

I built my house back in 1993. There is no way in hell I could afford to live here if I tried doing the same thing now. We live in a community where the land is so valuable that newbies are coming in and knocking existing houses down, then building ridiculously expensive new homes.

[Tonik]

1 minute ago, SpecialEd said:

I built my house back in 1993. There is no way in hell I could afford to live here if I tried doing the same thing now. We live in a community where the land is so valuable that newbies are coming in and knocking existing houses down, then building ridiculously expensive new homes.

So your net worth is huge based on the land value alone. Glad we cleared that up.

[SpecialEd]

1 minute ago, Tonik said:

So your net worth is huge based on the land value alone. Glad we cleared that up.

Chagrin Falls is a *long way* away from Pepper Pike and Hunting Valley financially. That's all I'm saying. Nobody would consider me "jbot rich." I hope he won't have a mortgage.

[jbot]

Haha I am FAR from rich, especially not compared to the SpecialEd Land Baron of Chagrin Falls.  Also, more evidence of my being a fellow peon, I'm definitely getting a mortgage. Just couldn't pass it up at 3%!  I'm gonna go with enough of a down payment to keep my mortgage lower than what it was and spend the rest on drugs and remodeling. 

[Tpoppa]

12 minutes ago, jbot said:

Haha I am FAR from rich, especially not compared to the SpecialEd Land Baron of Chagrin Falls.  Also, more evidence of my being a fellow peon, I'm definitely getting a mortgage. Just couldn't pass it up at 3%!  I'm gonna go with enough of a down payment to keep my mortgage lower than what it was and spend the rest on drugs and remodeling. 

It's a financially terrible decision to pay cash for a house.  Honestly, a bigger down payment or paying off a mortgage early doesn't make financial sense either... because math.

[Tonik]

7 minutes ago, Tpoppa said:

It's a financially terrible decision to pay cash for a house.  Honestly, a bigger down payment or paying off a mortgage early doesn't make financial sense either... because math.

I don't anybody a thing, for anything. Should I go finance some stuff?

[Tpoppa]

3 minutes ago, Tonik said:

I don't anybody a thing, for anything. Should I go finance some stuff?

Whether you understand the math or not, paying off a house early doesn't make financial sense.  Now, there might be some personal value to you, or peace of mind for being able to say your house is paid off.  Perhaps that offsets the money you lost.