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So we are suppossed to close May 12th 2011, but my LO just sent my papers to the underwritter on Fri

So we are suppossed to close May 12th 2011, but my LO just sent my papers to the underwritter on Fri. April 29th...... I'm scared we will not close in time and loose our money. We are going FHA on a house that was on the market here in Arizona for 73,000 We offered 75,00 & have since given our LO Everything she has asked. Our credit is fair because we just dont have credit so they asked for 3 open trade lines which we also submitted.
We are using the Lending Company Thats who my LO works for, In all honesty do you see me closing by May 12th or do I need to ask for an exstension
  • April 30 2011 - El Mirage
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Answers (3)

Best Answer

Stephanie,

You are doing good.  I have had LO send docs 1 day before, needless to say we were late.

There is still plenty of time to close, barring any unforeseen problems.

Depending on how your contract was written, your loan docs and down payment probably need to be to title by May 6 before your EM is in jeopardy.  If you do not get final approval by then, you will need to consider an extension to protect yourself.  Your agent should be able to explain how your contract is written and what your responsibilities are.
  • April 30 2011
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No worries, that is plenty of time.  This is more of a question and concern for your lender.  Make sure to stay in touch with them, even offer to pay for a "rush".  Honestly, you have plenty of time, & you are in pretty good shape.

Best of luck.
Spirit
  • May 01 2011
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Thank you for answering, I have been so stressed about this whole process and loosing sleep over it. You just made me breath a little easier, Thank you

Stephanie
  • May 01 2011
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