Tuesday, August 30, 2011

Limbo

So we are in limbo right now with our house. We were pre-approved for our home loan and as of friday they wanted to pull a bunch of tricks and wanted seven differnt letters explaining where the money in our checking account came from. That was on Friday, on Wednesday they wanted five different letters. Seriously? They were demanding all sorts of weird stuff: check stubs and invoices and letters from companies that gave us money in the past who knows how many months. Because of this they had to extend our closing date again and I don't even know when the next closing date is. Good thing it wasn't just us that helped extend the closing date. The owner of the home didn't have all of the receipts in for the repairs on the house and he turned those in right before 5pm. I had all of my letters in before 10am. The morgatge company requested this stuff on Thursday night. Goodness gracious, I'm not sure if all of their request are lagit. We have our hotel until tomorrow because that is what the second closing date that was given us was. The 31st is tomorrow.
I called my realtor and asked her if all of these demands were normal. She said it wasn't. I got a print out of all of the hotel receipts to show the underwriters. I'm thinking that they don't believe that we are living out of hotels. The mortgage company wants every check that we have written in the past six months that is over $200. Can you see how this is stressful? We have given them everything that they have asked for and now we are waiting to hear back. They could say no and if that's the case we'll just get an apartment. Or they could say that they need more paperwork. I'm hoping that they will push everything through.

2 comments:

dannyscotland said...

This seems really extreme. It sounds like they don't want to give you a loan. I have heard of this happening to people, but it was right after the housing market crashed. I know they ask for a lot of different things now but I think this is excessive. I hope they get you your loan soon.

Jen said...

The loan is all ready to go. It's now the owners of the house not turning all of their paperwork.