[Homestead] It is happening
don.bowen at earthlink.net
Mon Feb 7 23:12:51 EST 2005
Well, it is finally here. The loan documents were signed Friday and
recorded today. Money should be dispersed tomorrow and hopefully my wife
can close and move into her house Wednesday.
This was a rocky road marred by all sorts of incompetences. The selling
agent said they were pre qualified but they weren't. The next screwup
appears when the buyers did not have a valid social security card. The
lender did not tell anyone that there was a problem until a couple of days
before the scheduled closing. There was to be a 5 day slide in the
schedule but the escrow office told everyone it was only a day. That loan
fell through so they had to go to another. That one required that the
buyers prove where they got the money. There was also a second loan in the
works and the first one to arrive would get the business but both
declined. Again, no one was telling anyone anything. Finally the listing
office got in the game and helped secure a loan which the buyer signed
Friday. What are the payments on a sub prime loan for $500,000?
I am still a skeptic so I am not turning over the house keys until I see
the money show up in the account.
Don Bowen Awl Knotted Up Woodworking
More information about the Homestead