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mwandh

Advice

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dual listing on Zillow

hi,I entered information about my house a few months ago, and recently, I put the house for sale with an agent.  The agent then posted the house on Zillow using a slightly different address.  How can I remove one or the other addresses so that viewers aren't confused about what the actual house is?  The zestimates are different also.  I've already submitted this question through the More/Report a Problem with this Home link on the original home listing.thanks,Won

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Why is refinance taking so long? Can I back out?

I started getting quotes from 3-4 lenders in late July for an FHA streamline refinance. Finally settled on a lender b/c of the good reviews here on zillow. Initial documents were signed and sent Aug 3, appraisal done Aug 13, appraisal docs got to him Aug 19. He had said closing would be soon after receiving appraisal docs, but nothing has happened since then (going on 21 days now). I understand the refinance boom, but what is the mechanics of closing? Bunch of paper pushing to the right people? Why is the system like this? What else needs to be done? Nobody is able to explain the steps to me. Why are lenders so fast and eager to get your business, but once the appraisal payment clears, nothing happens? The original documents I signed said closing approx. 20-25 days, and he said 2-3 weeks, and others said a week or two. So I feel misled, since I could have chosen others who had no appraisal fee/same rates, but went with him thinking this would close in late Aug to avoid extra month of mortgage insurance and interest payments. Also, the rates keep dropping, and I am locked for 60 days until Oct 4, so I can't take advantage of that. That is also when the higher FHA MI kicks in. Could this go into Nov? Can I back out? I doubt anyone else can close me before the higher MI? Seems like I have to file new paperwork also. Thanks for listening to my inner frustrations.-Naive homeowner

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Construction will not start for a long time.

hi, We got our loan approval a few weeks ago and have already put down 5%.  The condo building has 14 units, and 6 still need to be sold to start construction.  When we signed, it had 6 sales, and only 2 more have sold in the past 6 weeks or so.  The original estimate they gave us was a closing date in August 2008.  It looks like it will be sometime in 2009, the way the market is going.  Unfortunately, it looks like the contract does not stipulate anything about a time period for the completion of construction.  It only talks about the seller not being at fault for 'acts of god' or builder contract disputes, etc.  This is not a good situation for us, because our baby is due in April, so we wanted to move in quickly.  Also, our rental lease ends in May, although my in-laws will allow us to stay in their basement.  And since we've put down 5% this year, I don't know if this will complicate our taxes if the loan closes in 2009.  Finally, their web page is advertising the same model at about 14k less than what we agreed on, so I feel like a sucker for not realizing that this situation could have happened. What are our options?  Can we get our deposit back somehow?  Theoretically, this could drag on forever if no one buys.  This is in Maryland. thanks a lot...

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