getting REALLY angry

we still don't have a closing date and our rate expires Friday.

never mind the fact that i TOLD our loan officer we needed the rate to be good for 90 days, not 60 - she told us she did 60 to "save us money."

yeah well now we could be paying more in the long run.

and every day she calls saying the file is still with the underwriters and they need "just one more thing."

why do i feel like she is jerking us around?

Re: getting REALLY angry

Ugg, boy do I remember the jerking around. Not fun, but will be worth it in the end, I promise!

Re: getting REALLY angry

Maybe if u tell your realtor, he or she can put pressure on them?

The whole process is so annoying and stressful. Until you actually close, u feel like you'll never get there. Hang in there....

Re: getting REALLY angry

Can you get your lawyer involved?

I know our rate lock expired the day that we closed. Our lawyer got the seller's lawyer to agree to close that day.

I know it has nothing to do with the bank, but perhaps they can apply some pressure.

Re: getting REALLY angry

Re: getting REALLY angry

I feel your pain!!!!!!!

I started my re-fi in April and still not done.

I was told the same thing "Underwriter needs this one last thing" or "we are in the final stages"

I guess I have to stick it out because I got a good rate and they keep extending it for me and the loan Officer is so embarrassed at this point that she keeps apologizing to me.

Re: getting REALLY angry

oh we are so right there with you, every time I submit "one last thing" there is another.

Re: getting REALLY angry

i am in the opposite situation but it is equally as frustrating.......we needed to close in 30 days and our mortgage broker said that was putting a little bit of a rush on things....since my husband was away on business when the offer was accepted and we are buying out of state we were already behind the 8 ball when it came to getting everything to our mortgage broker....so we were all a little nervous about getting the loan in time for the closing which was set for 9/3 (as per the seller's bank - we are buying a short sale)....

it turned out that within 1 week of our loan application we were approved for the loan with a clear to close - our mortgage broker said it's the fastest anyone in his office ever got a loan secured in this market.....so we were just waiting on the appraisal which was the only contingency left.....

as our luck would have it, the appraisal was lower than the agreed purchase price so now we are in limbo....we are set to close in 9 days but we can't if the seller's bank doesn't re-negotiate with us on the purchase price so now we are waiting on them and the whole deal can fall apart - we can always come up with the difference in the appraisal price and purchase price but that would be another few thousand out of pocket - and this is a declining market - i dont want to pay more than the property is worth, especially when we'll probably lose money on it next year just because of the way things are.......

buying a house is really frustrating....

Message edited 8/25/2009 9:32:00 AM.

Re: getting REALLY angry

We had this problem (and then some) and ultimately paid to extend the rate -- but for us we needed another 60 days... only in the end to have to change to a different type of mortgage and start all over, so I got mad and made them apply the money we paid to extend the rate toward our closing costs...

I hope they can sort something out for you soon!

Re: getting REALLY angry

I"d be going crazy right now and would have already called the loan person's supervisor. You have more patience than I do! Did she say what the "one" last thing was??

Hope this works itself out quickly and favorably!

Re: getting REALLY angry

Posted by Cpt2007

I"d be going crazy right now and would have already called the loan person's supervisor. You have more patience than I do! Did she say what the "one" last thing was??

Hope this works itself out quickly and favorably!

Re: getting REALLY angry

Posted by Cpt2007

I"d be going crazy right now and would have already called the loan person's supervisor. You have more patience than I do! Did she say what the "one" last thing was??

Hope this works itself out quickly and favorably!

Re: getting REALLY angry

take it from me, I work at a large mortgage lender.

Ask to speak to her manager now. The problem is underwriters and loan officers are not really on the same team. The loan officer wants to get you the loan bc they make money on it. The underwriter's job is to make sure the bank is not assuming too high of a risk by giving you the mortgage.

Since she locked you in for 60 days instead of the 90 you wanted, she can definitely get you a FREE one or two day extension and then SHE can pay for the extra time.

And, it IS absolutely your attorneys job to set the closing date. Of course he needs to make sure you are clear to close with the lender, but ultimately he schedules the closing, not the lender.

I would make sure your loan officer and her manager know how disappointed you are with their service.

Good Luck!!

Re: getting REALLY angry

Re: getting REALLY angry

Posted by headoverheels

Posted by Deeluvsvinny

Since she locked you in for 60 days instead of the 90 you wanted, she can definitely get you a FREE one or two day extension and then SHE can pay for the extra time.

this is what she told me, so i am happy to hear this from you too.

our loan officer said that the bank attorney calls my attorney and the seller's attorney to schedule the closing date, so she was giving me false info? or do you think this is what the bank told her?

i appreciate your reply, thanks

Re: getting REALLY angry

start calling an harrassing. we had an issue that they were saying the file was sitting on someones desk waiting to go to the underwriter.. that was for like weeks. finally DH starting calling and they called an hour later that it was sent over.

Re: getting REALLY angry

sorry; very annoying!!!

where did you buy?

Re: getting REALLY angry

Message edited 9/1/2011 2:11:30 PM.

Re: getting REALLY angry

If it's the mortgage company's fault that you can't close before the rate expires, THEY should be the ones paying to get the rate extended.

We were unable to close by the day the rate expired because the bank's lawyer couldn't be at the closing. The bank paid to extend ("float") the rate an additional week and gave us an extra $200 to compensate us for the delay. And this was a large US bank.

Getting a closing date is the worst. Hang in there. There is always something and it always seems to come down to the wire.