"Clear to Close" UUUGGHHHHH!!! JUST IDIOTS!!!

So we are SCHEDULED to close tomorrow.

We have everything in place. Then we send them the paperwork for the insurance on the house.

We got Yelled at.

SERIOUSLY!

We were told we have too much insurance and that the amount we pay will mess up our debt to income ratio so...

We have to insure the house for less to get the clear to close.



Really? You, Mr. Lender want to insure the house for the BARE MINIMUM??

REALLY????????



Thank goodness we have a great insurance agent who is writing us a few policys, all legit, to meet the criteria. We were told we will get the clear to close today.

I mean, I GET IT. I do. But all they care about is the amount of the mortgage is covered in insurance. Not. One. Penny. More.

Stay tuned.

(FWIW we are very close to the threashold of debt to income, but its not, for one moment, a problem. We are doing well and will only do better as my husbands business grows. So on paper we are close. In real life we have no problems at all meeting any payements. The only debt we have is my car. His is paid off. No consumer debt at all. Just my car, and the house).

Re: "Clear to Close" UUUGGHHHHH!!! JUST IDIOTS!!!

this is my biggest fear, al lthe last minute crap

hope this works itself out and you own a house SOON

Re: "Clear to Close" UUUGGHHHHH!!! JUST IDIOTS!!!

good luck!

we were supposed to close on a wednesday at 1, and were told tuesday at 4 that we wouldn't be closing because of an issue with the seller

we ended up closing a week later