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user0645413

Advice

  • (3 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

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My Mortgage provider keeps pushing off the closing date

Answer

An update:  We are going to go through with the closing, they got it done but then when the HUD came back, the lender had the purchase price at $1000 more than it was supposed to be!  Lender lost many prospects today.Thanks for all the advice, you know the pain and struggles so I appreciate the feedback.

  (0)
My Mortgage provider keeps pushing off the closing date

Answer

An update:  We are going to go through with the closing, they got it done but then when the HUD came back, the lender had the purchase price at $1000 more than it was supposed to be!  Lender lost many prospects today.Thanks for all the advice, you know the pain and struggles so I appreciate the feedback.

  (0)
My Mortgage provider keeps pushing off the closing date

Answer

I did escalate it and they were still delaying. I feel like once you have a lender your rights are limited. Unlike a restaurant, I can't walk away if I have not been served for three hours. This is very similar in my mind to the airline industry when they were holding people for over 8 hours on the Tarmac. If I walk from the deal, I lose the house and my earnest money and I have to go through the process all over again and this process could jeopardize my ability to purchase another home.

  (0)
My Mortgage provider keeps pushing off the closing date

Answer

I did escalate it and they were still delaying. I feel like once you have a lender your rights are limited. Unlike a restaurant, I can't walk away if I have not been served for three hours. This is very similar in my mind to the airline industry when they were holding people for over 8 hours on the Tarmac. If I walk from the deal, I lose the house and my earnest money and I have to go through the process all over again and this process could jeopardize my ability to purchase another home.

  (0)
My Mortgage provider keeps pushing off the closing date

I have been pre-approved, have good credit, found the house we want, have the signed purchase agreement and was told we would be able to close on a date agreed upon by all parties.  There were no outstanding conditions and the mortgage company keeps delaying the closing to the next day and then the next day.  It's been three days now.  What rights do I have?  They have been very vague on where the loan is at saying it is in underwriting, then it's out of underwriting...etc.

  (1)
My Mortgage provider keeps pushing off the closing date

I have been pre-approved, have good credit, found the house we want, have the signed purchase agreement and was told we would be able to close on a date agreed upon by all parties.  There were no outstanding conditions and the mortgage company keeps delaying the closing to the next day and then the next day.  It's been three days now.  What rights do I have?  They have been very vague on where the loan is at saying it is in underwriting, then it's out of underwriting...etc.

  (0)