Still in housing fun!!! - The Horse Forum
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post #1 of 11 Old 08-03-2009, 08:35 AM Thread Starter
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Angry Still in housing fun!!!

So some of you may remember this thread: Oh what housing fun... or NOT- kind of long

But we still have not closed on the house. The bank finally allowed the flooring to get fixed (they didnt ok it till the 21st of July)... When the contractors pulled the cabinets and floor they found three subfloors that had to be removed and replaced... which set the project back a day or two. Well they finished everything on the 30th (which is what the bank and contractor had agreed) and the bank said we would close on the 31st. Our loan officer had the papers pulled- my BF had his money and paperwork in line- but we didnt close.

Apparently the bank hasn't paid the contractor yet so the title company wouldn't allow us to close (otherwise there would be a lien against the house) and now the bank doesn't want to pay to have the underwriter re-pull the documents (around $600) and is saying that we need to fork over the cash if we want to close. Our loan officer said that she is not paying it and unless the bank comes through and pays we just simply will not close. The bank had given the ok to have the papers pulled and they are the ones that didn't do what they needed to do to have this placed closed.

Our landlords renter fell through so we are just staying at our current place till we get this figured out. We are going to pay her for each week staying there instead of the whole month (even though it may take another month to get this sorted).

Our realitor is being less then helpful and keeps making jokes about this instead of getting on the phone with the listing agent (who apparently doesnt have good communication with the bank) and working something out. Im pretty sure if we dont close by this weekend we are walking and finding a different realitor... ya we will be out some money but better then playing this game and never closing.


It's not the will to win, but the will to prepare to win that makes the difference.
- Paul "Bear" Bryant (Former college football coach)
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post #2 of 11 Old 08-03-2009, 10:38 AM
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Sorry to hear this has turned into a long drawn out thing.
I hope that the bank gets its act together and pays the contractor, so you and your boyfriend can move forward with the house, or you walk away with more knowledge about buying a house.
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post #3 of 11 Old 08-03-2009, 10:41 AM
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Red tape, red tape, red tape.

How awful for you!
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post #4 of 11 Old 08-03-2009, 10:50 AM
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buying houses can be such a pain! dealing with the bank is even worse :( I'm guessing its a foreclosure and usually they can be more difficult to deal with then others. I hope it all gets sorted out for you one way or another! and sounds like your realtor isnt worried about making some money..which is scary!
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post #5 of 11 Old 08-03-2009, 11:03 AM
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I'm sorry for hearing that, it's frustrating. Hope you can solve it asap.

"On hyviä vuosia, kauniita muistoja, mutta kuitenkaan, en saata unohtaa,
Että koskaan en ole yksin, varjo seuraa onneain.
Vaikka myrsky hetkeksi tyyntyykin, varjo seuraa onneain.
Ja pian taas uusin hönkäyksin, varjo seuraa onneain.
Hei tuu mun luo, pieneksi hetkeksi. Puhutaan, varjoni, valkoiseksi enkeliksi."

Pelle Miljoona Oy - Varjo seuraa onneain

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post #6 of 11 Old 08-04-2009, 07:03 AM Thread Starter
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We were told last night that the closing is now going to be tomorrow at 11:30am- My BF pretty much said that if this doesn't happen this week we won't be closing since we need to find somewhere else to live (our landlord has a renter for Sep. 1st now).

I’m really not sure what is up with our realtor. He needs the money- so he doesn't want us to back out. He just likes to work around the subject in hand and make stupid jokes to ignore everything.

I’m really hopping that this does happen and close for us because I don't have much more patience left...lol


It's not the will to win, but the will to prepare to win that makes the difference.
- Paul "Bear" Bryant (Former college football coach)
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post #7 of 11 Old 08-04-2009, 10:23 AM
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I have a friend in Texas, that is trying for a new construction loan
everything is good with them, credit downpayment and everything
both have really good jobs. etc.

the bank told them they could not use money out of saving for the
down Payment. (What) I always thought that was what savings
were for. to use when you needed it.

they are buying land to put the house on already.

so it seems banks have pulled the purse strings closed especially if
they have gotten Huge bailout checks from the government. They used
the money for everything else and not for loans as it was supposed to
be used for. (big bonous's comes to mind).

I am concerned for the security of our great Nation; not so much because of any threat from without, but because of the insidious forces working from within. Douglas MacArthur
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post #8 of 11 Old 08-04-2009, 10:27 AM
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What a mess!

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post #9 of 11 Old 08-04-2009, 12:49 PM Thread Starter
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Quote:
Originally Posted by RegalCharm View Post
I have a friend in Texas, that is trying for a new construction loan
everything is good with them, credit downpayment and everything
both have really good jobs. etc.

the bank told them they could not use money out of saving for the
down Payment. (What) I always thought that was what savings
were for. to use when you needed it.

they are buying land to put the house on already.

so it seems banks have pulled the purse strings closed especially if
they have gotten Huge bailout checks from the government. They used
the money for everything else and not for loans as it was supposed to
be used for. (big bonous's comes to mind).
They can't use money out of savings?!?!?!?!?! That is crazy. I know Cory has to have X amount left in savings/checking account after the down payment and closing costs have been taken out.

I hope we do not get any surprises when he goes to sign... our loan officer said that he is clear to close and has everything in line that he needs and has paid everyone that needs to pay before closing- just needs to bring the cashiers check and a hand ready to sign.

I have heard that things are going to be tougher to get to close- which I understand because they dont want another wave of foreclosers but at the same time they are going to make it impossible for any average honest person to get a house.


It's not the will to win, but the will to prepare to win that makes the difference.
- Paul "Bear" Bryant (Former college football coach)
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post #10 of 11 Old 08-05-2009, 04:56 PM Thread Starter
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So the closing got pushed off to 3:30... we called at 11:30 and said that we were cleared to close- 100% going to happen....

Went up to do the final walk through and found out that there were issues between the our lender and the title compay- we are now back home waiting on our realitor to let us know IF we will ever close. Im really starting to feel like someone is playing a real cruel joke on us. Alright where are the punked cameras??????


It's not the will to win, but the will to prepare to win that makes the difference.
- Paul "Bear" Bryant (Former college football coach)

Last edited by Angel_Leaguer; 08-05-2009 at 05:05 PM.
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