Homestead mailing list

[Lisa Perry <lkvp AT floydva.net>]

Don Bowen wrote:

> Sometimes I feel like thumping my head against the wall.  We were to 
> close the 24th but late last week they told us it was slipping a day.  
> No problem I need the day to complete the move.  Then Monday we were 
> told the house my wife is buying would not close on the 27th but maybe 
> on the 7th.  We thought we had to be out of here on Friday so we made 
> arrangements. 
>
> The whole feeling I get from everyone involved is one of incompetence, 
> laziness, and stupidity.  So, when do we close?  Sometime this week or 
> next on the house being sold, sometime next week or the week after on 
> the house being bought.

Don, this is the wonderful world of mortgage loans.  We aren't 
incompetent, lazy or stupid.  Okay, maybe we are some of the time, but 
this is how it goes on the loans I work on at least 1/3 of the time.  
Stuff happens and often it's out of my control.  I don't like it and I 
can't stand being a schmuck when I have to call my borrowers (clients) 
and explain to them that we can't close on the scheduled delay.  That 
said, the delay on your house closing of a day or two is very normal.  I 
knew your closing date wasn't set in stone, but I was hoping for your 
case that it would be.  Your loan officer is shooting for the closing 
day in the contract the same as you are, you must have a date to 
schedule movers, shutting off electricity and what not, we all know this 
much.  But perhaps a day or two was lost in getting your loan out of 
underwriting for one reason or another (and there are plenty of reasons 
from needing another item  for a condition to meet guidelines, being 
backed up to training new personnel to holidays and snow days and floods 
and....)  That won't make you feel any better but perhaps it explains 
what is going on for you.  As to the closing on youu wife's home, that 
is a long delay (seven work days) and she should be given a reasonable 
explanation.

Soon this be but a faint memory.  Meanwhile, hang in there.  You will 
close.  Sending you some good, cheerful thoughts and well wishes.

Lisa
...still hanging in there myself and working towards boosting my 
mortgage business this year while hoping (with crossed fingers) that 
it's my last year in this lovely job....