Zillow Advice: Buying Process - Deal gone BAD http://www.zillow.com/advice-thread/Deal-gone-BAD/376199/ Zillow Advice | Zillow Real Estate It's always a good idea for ... http://www.zillow.com/advice-thread/Deal-gone-BAD/376199/ It's always a good idea for customers and professionals -- real estate agents, mortgage professionals (originators, processors and underwriters), settlement agents, etc. -- to have a checklist to do their very best to make sure all the "i's" are dotted and "t's" crossed in a real estate transaction.&nbsp; It can truly be a roller coaster.... Sun, 28 Nov 2010 19:28:00 GMT http://www.zillow.com/advice-thread/Deal-gone-BAD/376199/ 2010-11-28T19:28:00Z I'm not sure your point.&nbsp;&nbsp; ... http://www.zillow.com/advice-thread/Deal-gone-BAD/376199/ I'm not sure your point.&nbsp;&nbsp; <br/><br/>You describe things in the first person as if you're the client - then you switch to being the agent.&nbsp; Do you have suggestions to avoid disaster? Sun, 28 Nov 2010 17:29:00 GMT http://www.zillow.com/advice-thread/Deal-gone-BAD/376199/ 2010-11-28T17:29:00Z Hi Pedro,You are precisely ... http://www.zillow.com/advice-thread/Deal-gone-BAD/376199/ Hi Pedro,<br/><br/>You are precisely correct, cancelled closings due to loan denials can have terrible repurcussions to many people.&nbsp; Rather than finger pointing, or starting a blame game; I'd rather focus on working diligently to try to find a solution to get the loan closed ASAP.&nbsp; <br/><br/>First - Make ABSOLUTELY sure you understand exactly what is needed.&nbsp; Did the lender not receive the W2's; or does the loan program require tax transcripts and the W2's don't match the transcripts from the IRS (which of course they can't if returns are unfiled)?<br/><br/>Not all originators take the time to really understand the homebuyer's true situation and the impact of "other than ordinary" circumstances(such as unfiled tax returns, non-court ordered child support with payroll deduction, the list can go on).&nbsp; This is an AMAZINGLY complicated business now, mortgage money&nbsp;may appear as a commodity but it's more important than ever to use an originator that "Get's It".&nbsp; <br/><br/>I'm unsure from your post if this is an active deal that you need some help salvaging, or if it's intended as preventitive&nbsp;"how do I make sure my client is protected" question.&nbsp; If it's an active deal, post as much as you can about the situation, and some great lenders will respond with suggestions - hopefully one will work for you. Sun, 28 Nov 2010 16:48:00 GMT http://www.zillow.com/advice-thread/Deal-gone-BAD/376199/ 2010-11-28T16:48:00Z