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Appraisal came back and the underwriter seems to have everything they need for us to close on the 11th. I've schedule the movers to drop everything off on the 12th. I'm going to buy a fridge on Wednesday and schedule it to be dropped off on the evening of the 11th or the morning of the 12th. I feel like there's a 50% chance that something is going to go wrong and I'm going to have to frantically call everyone and delay everything.
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May 4, 2015 21:18
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No Butt Stuff posted:Appraisal came back and the underwriter seems to have everything they need for us to close on the 11th. I've schedule the movers to drop everything off on the 12th. I'm going to buy a fridge on Wednesday and schedule it to be dropped off on the evening of the 11th or the morning of the 12th. I wouldn't schedule anything until you are clear-to-close. That's just my experience of spending 38 days in underwriting limbo for no good reason.
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May 4, 2015 22:03
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Yeah that's really shaving things thin, unless you'll literally be homeless on the street I'd suggest giving yourselves at least a few days between close, and when you start having things delivered. At the very least... don't you have anything inside the home you'll want to paint or something?
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May 4, 2015 22:08
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Leperflesh posted:Yeah that's really shaving things thin, unless you'll literally be homeless on the street I'd suggest giving yourselves at least a few days between close, and when you start having things delivered. At the very least... don't you have anything inside the home you'll want to paint or something? Yeah. I have a couple rooms and I need to do some cleaning. I guess I can just get the rollaway bed I was planning on getting anyway for while I wait for the furniture.
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May 5, 2015 00:29
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No Butt Stuff posted:Yeah. I have a couple rooms and I need to do some cleaning. I guess I can just get the rollaway bed I was planning on getting anyway for while I wait for the furniture. I know budgets are tight when buying houses and stuff but if you can swing it, maybe just plan to live in a nearby motel room for a few days between closing and move-in day. It'll be a godsend when/if it turns out that you can't get a utility turned on (or the utility turns it off the instant the previous owner stops paying even though you already arranged to start paying), you need more time for paint to dry than you expected (no paint on your furniture), or - and this is really common - the lender drags its feet doing some bullshit paperwork thing and you close three days late.
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May 5, 2015 00:35
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I almost gave notice to my apartment once we were under contract and past inspections on my last failed home buy. If I did, my current apartment would have been re-rented and I would have been forced out with no home purchased by the time closing day rolled around and foundation was hosed. Until papers are signed and keys handed over, nothing is set in stone.
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May 5, 2015 00:35
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Leperflesh posted:Yes, last I heard it was something like 70% of units are rent controlled. But: in SF, only units built prior to 1979 are eligible for rent control. So rent control is not a disincentive to build new units in SF. No, in fact it's a huge incentive to build new units which are always more expensive than whatever they are replacing. So the winners are 1) the tenacious and lucky tenants who do everything they can to continue renting under market, even those who are wealthy and aren't the intended beneficiaries of rent control 2) well-financed developers who can profit off of opportunities to buy and redevelop property. The losers are everyone else, including low income renters who can't find affordable housing because there is no turnover and units being converted off the market, smalltime landlords, and neighborhoods where rent controlled landlords can't afford property upkeep. BEHOLD: MY CAPE fucked around with this message at 00:46 on May 5, 2015 |
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May 5, 2015 00:36
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Leperflesh posted:the lender drags its feet doing some bullshit paperwork thing and you close three Seriously, no matter what your contact with the lender says in regards to closing dates, s/he's lying.
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May 5, 2015 00:52
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LabyaMynora posted:Seriously, no matter what your contact with the lender says in regards to closing dates, s/he's lying. Am I the only one that had everything from the lender a full week early when I bought?
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May 5, 2015 01:45
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Jimmy James posted:Am I the only one that had everything from the lender a full week early when I bought? Our lender was literally the only competent people in our transaction. Even shaved off a couple of points before close because my final credit score ending up being a wee bit higher.
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May 5, 2015 03:10
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Jimmy James posted:Am I the only one that had everything from the lender a full week early when I bought? Yes. My closing date was pushed 2 weeks and it took a strongly worded letter with our attorney's letterhead on it to make BofA do anything to take our money and finish the loving deal.
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May 5, 2015 03:28
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We actually closed right on time. But only because I read every single thing I signed, and between me and our realtor, we caught at least five mistakes the lender had made on documents leading up to the day of signing. They were still three hours late to sign, but we did it at the title company's office and they kept the doors open an extra hour just for us. Also they repeatedly lost things we'd signed and we had to re-sign stuff and fax them in. e. Fax. Not scan and email. In 2009. I just happened to own a printer/fax/scanner or we'd have been running to a loving Kinkos just to fax documents.
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May 5, 2015 05:12
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I had no problems with my lender because they were my former employer at the time, so I got preferential treatment 
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May 5, 2015 15:23
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My lender has been a jack rear end. I average about 5 W2s a year and that through them for a loop. Such a loop that on the first closing date they were still sending out VOE forms. We missed yesterdays closing date because they found a document dated 4/6/15 that said I needed flood insurance. Never mind my unit isn't in the flood plan, only the first set of townhouses are. Communication was great the first two weeks but the last week and a half to two weeks it has been awful. Days of radio silence, emails unreturned or partially answered. Did I mention I am putting 40% down. I should have sold some stock and just bought the loving thing out right. Never do finance. I have moves scheduled for the 11th but really wanted to paint before I got all moved in.
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May 5, 2015 16:23
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Oh gently caress this poo poo. I emailed escrow asking when my funds were going to hit my bank account: "We are waiting for the buyer’s lender to fund so that we can release the recording. Once it records the file is usually disbursed the following day. So if we close today your funds will be send out tomorrow. We’ll keep you posted as to the closing." Yeah, closing was supposed to be yesterday. god drat itttttt. Nothing I can do but wait?
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May 5, 2015 17:08
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"House Buying Megathread: How long are these jerks going to delay my closing??"
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May 5, 2015 17:10
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silvergoose posted:"House Buying Megathread: How long are these jerks going to delay my closing??" I was supposed to close on my house on April 28. Now it's being pushed back to May 8 because my loan officer couldn't find the bank and TSP statements that were faxed to them. "House Buying Megathread: Driving hard working men to become hard drinking alcoholics."
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May 6, 2015 02:11
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So far we have only had the title company miss a delivery attempt of a certified letter at 10:30 AM, then call days later asking if we had sent what they had requested. I would make fun of them more for missing the delivery as well as the delivery attempt notice, but upon further inspection at least it was a Saturday, and they actually promptly went into the post office once we gave them the tracking number and were able to pick it up OK.
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May 6, 2015 06:50
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My closing went great, and everything was on time.
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May 6, 2015 17:15
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I got my packet in the mail from the bank yesterday and I am terrified of it.
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May 6, 2015 17:25
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I had a wonderful home buying experience and I really like my house.
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May 6, 2015 17:27
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My mortgage company hasn't cashed my first payment check that was sent 2 weeks ago and due 1 week ago  .
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May 6, 2015 18:07
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Andy Dufresne posted:My mortgage company hasn't cashed my first payment check that was sent 2 weeks ago and due 1 week ago Call them. If they call you it probably won't be until it's in collections.
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May 6, 2015 18:52
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Who on earth mails checks anymore? Set up auto payments, the post office is terrible and when they screw up it can cost you big.
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May 6, 2015 20:57
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It's a mortgage broker, they just haven't sold it yet. They don't have online payment and their website is trying to sell me a new mortgage, no options to manage anything. They have a number for existing loan servicing, I'll call them in a bit.
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May 6, 2015 21:09
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Okay so I refinanced. I got something in the mail saying that I should send them $50 to get a Declaration of Homestead to protect my equity in the home in case I ever fall on hard times. Is this worth getting?
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May 7, 2015 02:05
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Steve Yun posted:Okay so I refinanced. I got something in the mail saying that I should send them $50 to get a Declaration of Homestead to protect my equity in the home in case I ever fall on hard times. Is this worth getting?
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May 7, 2015 02:15
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Andy Dufresne posted:It's a mortgage broker, they just haven't sold it yet. They don't have online payment and their website is trying to sell me a new mortgage, no options to manage anything. This happened to me when my mortgage broker was selling my loan off. They ended up telling me it was because they couldn't take payment because the loan was in transition.
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May 7, 2015 03:31
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Andy Dufresne posted:It's a mortgage broker, they just haven't sold it yet. They don't have online payment and their website is trying to sell me a new mortgage, no options to manage anything.
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May 7, 2015 03:35
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Spamtron7000 posted:This happened to me when my mortgage broker was selling my loan off. They ended up telling me it was because they couldn't take payment because the loan was in transition.
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May 7, 2015 03:48
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Yeah, I just got a letter saying that there's a delay in their sale of the loan to Wells Fargo, they want me to send a check to a new address. More importantly I've got a name/number of a person at the lender I can talk with.
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May 7, 2015 03:57
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Andy Dufresne posted:Yeah, I just got a letter saying that there's a delay in their sale of the loan to Wells Fargo, they want me to send a check to a new address. More importantly I've got a name/number of a person at the lender I can talk with. holy lol at how bad they gently caress things up, are they going to cover the canceled first check?
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May 7, 2015 03:58
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There's some law that protects you for up to 60 days after a transfer/sale of your loan, from any credit hit or penalty due to a late payment. There's also a law that if you send a payment to the old lender they have to forward it to the new lender (again, without applying any penalty or fee) during that period. I got a letter about it the last time my loan was sold. e. yeah here's the exact text on their letter: quote:Under Federal law, during the 60-day period following the effective date of transfer of the loan servicing, a loan payment received by your old servicer on or before its due date may not be treated by the new servicer as late, and a late fee may not be imposed on you. Leperflesh fucked around with this message at 04:04 on May 7, 2015 |
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May 7, 2015 04:00
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My lender needs me to explain all the recent inquiries on my credit report, and included a list. All the inquiries are from them.
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May 7, 2015 04:53
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Andy Dufresne posted:Yeah, I just got a letter saying that there's a delay in their sale of the loan to Wells Fargo, they want me to send a check to a new address. More importantly I've got a name/number of a person at the lender I can talk with. My mortgage got bought by WF too and that was a huge boon since our checking, savings, AMEX and brokerage accounts are all at WF. I love having everything visible in one spot and setting everything up to happen automatically. My first mortgage got bought by U.S. Bank and they were great to deal with too but it wasn't anywhere near as convenient. Change everything to WF if you have branches nearby. They're pretty cool.
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May 7, 2015 05:23
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No, you absolutely should not keep your checking and savings accounts at the same bank that you have your mortgage at. If for some reason you get behind on your mortgage payments, or the bank thinks you are behind, they can legally transfer money out of your accounts to cover the debt without your authorization. Given how often banks screw up there is no reason to risk it.
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May 7, 2015 06:01
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Konstantin posted:No, you absolutely should not keep your checking and savings accounts at the same bank that you have your mortgage at. If for some reason you get behind on your mortgage payments, or the bank thinks you are behind, they can legally transfer money out of your accounts to cover the debt without your authorization. Given how often banks screw up there is no reason to risk it. If there's a chance you can't make your mortgage payments don't buy a loving house.
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May 7, 2015 06:12
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Spamtron7000 posted:If there's a chance you can't make your mortgage payments don't buy a loving house. Do you sell crystal balls? I sure would like to be able to predict the future like you can
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May 7, 2015 07:09
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Konstantin posted:No, you absolutely should not keep your checking and savings accounts at the same bank that you have your mortgage at. If for some reason you get behind on your mortgage payments, or the bank thinks you are behind, they can legally transfer money out of your accounts to cover the debt without your authorization. Given how often banks screw up there is no reason to risk it. I would say keep your accounts together for the ease of use and bank discounts for having multiple products, but if you are planning on falling behind on your payments, take your money out of your checking and saving accounts. And yes that wouldn't prevent the bank from taking your money on accident. But then again any bank could take your money on accident, or foreclose on your house by accident.
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May 7, 2015 13:43
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Yeah I actually prefer to have my mortgage serviced by the same bank I have a checking account at purely for the ease of automatic payments and transparency. Our last mortgage was like this (with BoA) and we set it up to auto pay our mortgage a week before the due date every month and never had a problem over 8+ years. If it's the same bank they can't pull some bullshit about "the bank didn't transfer the funds in time so you're late" because it's the same loving bank. Just my 2 cents. If you think you will fall behind on your mortgage payments then you have other issues to worry about besides the bank taking the money out of your account to pay what is owed to them.
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May 7, 2015 14:12
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