Great news Pie

Sorry SM - It'll all work out, I'm sure that isn't the first time they've had to deal with this. Heck, maybe there will be a cancellation or something. (keeps fingers crossed)

Well, we're not closing today, the mortgage underwriter is being completely absurd with the amount of paperwork they're requiring, springing stuff on us at the last minute, asking for huge changes on what feels like a whim to us.

Looks like next week at the earliest.

Is home-buying a lot more complicated out there? It seems like you guys are going through more hoops.

Yes it is - I have several clients in the business and they have told me they are being inundated with paperwork requests from the lenders. Much of it is at the last moment. One even speculated that its nothing more than a stall tactic of sorts. One said the redundancy is ridiculous.

I'm not sure if it's just out here, or if it's the new wave of fear running through the mortgage market. My sense is that nobody is getting fired for NOT underwriting a loan, but you will lose your job if you underwrite a bad loan.

For about two hours today, the mortgage underwriter told us they wouldn't be funding our loan, and that we couldn't buy this house. It came down to a difference of $3k between my W2 and the verification of employment form that my university HR department filled out. Neither side would budge, so the underwriter said, "Sorry. This loan is denied."

It turned out the difference was non-taxed income that went into my retirement account. Jesus, don't these people do this shit for a living?

So, anyway, they finally agreed to insert a letter explaining the difference into the file, and long story marginally shorter, the loan underwriter signed off on the loan today. If everything moves at the speed of light, we might actually close by Friday, only one week late.

Damn it.

Delayed again. Now it's pushed back to Monday.

You'd think they'd be wanting to sell houses at this point? Hang in there.

Hang in there, I'm sure it will work out for ya.

And now Tuesday.

Are they giving you a reason?

Funding. The bank has to call my employers the day they fund to make sure that I still have a job. They have the wrong phone numbers for my employers, so rather than just asking us for the right numbers, or looking at our loan docs all of which have my employer info on them, they just decided to put a hold on the funding instead.

This bank is a fucking joke. If they weren't giving us such a stupidly low rate, we would have jumped ship a long time ago.

So, it takes 2 days to close from the day they fund, (one day to count the money, one day to send someone to the title office to switch the deed on the house) which keeps pushing everything back.

Tuesday looks pretty solid at this point. We'll see.

Loan: FUNDED!

Keys: TOMORROW!!!

Woo-hoo!

OUT standing!! !! !! Congrats

now about that visitor schedule.....

Way to go!