...They just gave us a copy of the new inspection report & hubby says he saw the contractors in the office. Does this mean closing is imminent?
Thank you.
N.
2007-06-20 11:20:00 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Sigh...We were supposed to close on our house,but there were a chitload of inspections & contractors.So it was delayed.Now,they said they're waiting for "the bank to call" ( I still don't know WTF that means) and they gave us a copy of the new inspection report.
They also said we would close "for sure" this week. I try to contact them (the realtor & the mortgage banker guy) but they never answer me.
So...
1.Could anyone out there PLEASE answer all these questions? also how would I find out the closing date,myself?
thank you.
N.
2007-06-20 11:41:09 · update #1
O my hubby just goes to the office,where the mortgage banker & realtor guys are..I dunno where the loan officer is....They do not want to call or email me..I don't know why...
2007-06-20 12:17:20 · update #2
Well,we were supposed to close May 31st, ( I have the contract) but it is already overdue. They already did that underwriting stuff,didn't they? Otherwise why give us a closing date? Also they said we will close for sure this week.
What do you think of that,Oregon Realtor?:)
2007-06-20 13:43:13 · update #3
O and this is the office where the mortgage banker & the realtor work. They said everything else is done..Also they don't want to talk to me because I ask too many questions.
What do you guys say about all this now?
2007-06-20 13:45:25 · update #4
YOU MEAN just because the closing was delayed they have to do the UNDERWRITING all over again??
2007-06-20 14:05:24 · update #5
Please answer the new q's at the end..I don't feel like posting a new one. Thanx...
2007-06-20 14:06:35 · update #6
You mean it might not have madfe it to underwriting the 1st time? Then why give us a closing date? And,we are the buyers...Do you think it is in underwriting now,that is what they mean with all the bank talk? What IS underwriting,anyway?
2007-06-20 23:25:20 · update #7
And,how long does underwriting take,from the moment the last inspection is done,on average?
2007-06-20 23:28:54 · update #8
I have been following your questions, but for those that haven't, they are probably a little lost.
Who is "they" that you got the inspection report from?
If your Realtor and mortgage lender won't call you back, call their office and ask to talk to a supervisor. I bet you get a call in short order.
Although this is not what you want to hear, the new inspection does not mean that closing is imminent. The loan will still have to go through underwriting, and if there is any sort of government program involved (VA, FHA, state bond program, etc.) there is no way to expedite the process. Once the loan is through underwriting, then the closing is imminent.
Hang in there, it is almost over.
You get a closing date when there is commitment to contracts, and believe me, everyone shoots for that date. But it is what it is and if there are things that need to be addressed before the loan will fund, you miss the closing date. It happens.
I doubt that the loan made it to underwriting the first time. The loan doesn't typically get sent to underwriting unless all the i's are dotted and t's are crossed. If it got sent back at underwriting before, yes, it has to go through underwriting all over again.
If I were your Realtor, I wouldn't give you any sort of time frame commitment unless I was 99.9% sure it was going to close. So I think you'll close this week.
This isn't the fault of your buyer, Realtor or the lending officer. You seem really eager to assign blame in this situation and it is truly out of our hands. These loans move along at the speed they move and there is NOTHING anyone can do about it.
I don't think you ask too many questions, I think your attitude contributes to your problems.
2007-06-20 12:41:59 · answer #1 · answered by godged 7 · 1⤊ 0⤋
Alright, first of all they need a clear to close, I wouldn't bet this has happened yet, because your LO hasn't called you. Chances are they are waiting on stips to come through before they get the clear to close. I can help answer any questions you have, just email me at scornwell@newworldfederal.com. I'm a mortgage broker.
2007-06-20 18:50:23 · answer #2 · answered by marxistharpist 2 · 0⤊ 0⤋
I bet they wont talk to you because your language is worse than a trucker. Try speaking politely and i bet you get better results.
2007-06-20 20:34:20 · answer #3 · answered by frankie b 5 · 1⤊ 0⤋
Closing of what?
2007-06-20 18:27:12 · answer #4 · answered by Rawbert 7 · 0⤊ 0⤋
Huh??
2007-06-20 18:23:56 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋