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antoinette
boy mamma
Member since 5/05 2975 total posts
Name:
Antoinette
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at what point do we say enough is enough
we have been wating to close for months now. Everytime we get closer and closer to a closing date something else comes up. First it was the survey then it was a bakruptcy discharge papers for the sellers now they didnt like the rate they were getting so they applied for a new mortgage rate by paying points and they are waiting for clearance from the bank for their purchase. Meanwhile, The person buying my co-op needs to be out of his apartment by march 1st.  My lawyer wont schedule anything until she gets clearance from the sellers atty- Im so fustrated I could scream. half my suff is in storage. My on or about date was Jan 15- here we are ant the end of Feb with no date as of yet. I keep calling everyday and the paraleagal says she is wating for calls from the other lawyers- When is enough is enough at this point 
Message edited 2/24/2007 12:18:52 PM.
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Posted 2/24/07 12:18 PM  |
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Prudential Douglas Elliman Real Estate
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: at what point do we say enough is enough
Posted by antoinette
we have been wating to close for months now. Everytime we get closer and closer to a closing date something else comes up. First it was the survey then it was a bakruptcy discharge papers for the sellers now they didnt like the rate they were getting so they applied for a new mortgage rate by paying points and they are waiting for clearance from the bank for their purchase. Meanwhile, The person buying my co-op needs to be out of his apartment by march 1st. My lawyer wont schedule anything until she gets clearance from the sellers atty- Im so fustrated I could scream. half my suff is in storage. My on or about date was Jan 15- here we are ant the end of Feb with no date as of yet. I keep calling everyday and the paraleagal says she is wating for calls from the other lawyers- When is enough is enough at this point
I can totally relate. We finally sold my uncle's house who passed away Dec. of 05 after many obstacles. We were told it was a cash deal and we would go to closing rather quickly, this was back in November. We had to give them two extensions b/c it turns out they didn't sell their property and didn't have themoney so they had to apply for a mortage. So as of right now they have until Mrach 6th. We're not holding our breathe. 
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| Posted 2/24/07 12:53 PM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: at what point do we say enough is enough
WOW! I don't even know what to say!! 
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| Posted 2/24/07 2:01 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: at what point do we say enough is enough
I wish there was something I could do to help you. I'm so sorry you are going through this
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| Posted 2/24/07 2:41 PM |
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ali120206
2 Boys
Member since 7/06 17789 total posts
Name:
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Re: at what point do we say enough is enough
That must be so frustrating!!! 
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| Posted 2/24/07 5:55 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: at what point do we say enough is enough
yikes- but I think I know what the problem is
the people you are buying from sound like they need a sub-prime loan
20 sub-prime banks have gone under in the last 60 days and the government is tightening the requirments for these types of loans ( they are trying to make it so that people can no longer by homes they can't afford)
this is causing a slow down at the banks that are still in business-
I hope they get the loan soon- for your sanity
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| Posted 2/24/07 6:04 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: at what point do we say enough is enough
Posted by Beth1210
yikes- but I think I know what the problem is
the people you are buying from sound like they need a sub-prime loan
20 sub-prime banks have gone under in the last 60 days and the government is tightening the requirments for these types of loans ( they are trying to make it so that people can no longer by homes they can't afford)
this is causing a slow down at the banks that are still in business-
I hope they get the loan soon- for your sanity
What is a sub-prime loan? I've never heard of that.
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| Posted 2/24/07 6:13 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: at what point do we say enough is enough
Posted by Jennie0898
What is a sub-prime loan? I've never heard of that.
Loans to homeowners with less-than-sterling credit - since they had a bankrupty discharge- they are most likely not getting a traditional mortgae from a place like citi-bank etc
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| Posted 2/24/07 6:15 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: at what point do we say enough is enough
Posted by Beth1210
Posted by Jennie0898
What is a sub-prime loan? I've never heard of that.
Loans to homeowners with less-than-sterling credit - since they had a bankrupty discharge- they are most likely not getting a traditional mortgae from a place like citi-bank etc
Thanks for explaining. Like I said, I'd never heard of it and heck, I am a homeowner!! 
As for the OP.... I'm sorry to hear you're going through this. Good luck and hopefully this will all come together soon for you.
Message edited 2/24/2007 6:18:50 PM.
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| Posted 2/24/07 6:17 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: at what point do we say enough is enough
Posted by Jennie0898
Posted by Beth1210
Posted by Jennie0898
What is a sub-prime loan? I've never heard of that.
Loans to homeowners with less-than-sterling credit - since they had a bankrupty discharge- they are most likely not getting a traditional mortgae from a place like citi-bank etc
Thanks for explaining. Like I said, I'd never heard of it and heck, I am a homeowner!!
if you have great credit- you probably would not have- my DH does this for a living- so I know way too much about loans and mortages
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| Posted 2/24/07 6:18 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: at what point do we say enough is enough
Posted by Beth1210
Posted by Jennie0898
Posted by Beth1210
Posted by Jennie0898
What is a sub-prime loan? I've never heard of that.
Loans to homeowners with less-than-sterling credit - since they had a bankrupty discharge- they are most likely not getting a traditional mortgae from a place like citi-bank etc
Thanks for explaining. Like I said, I'd never heard of it and heck, I am a homeowner!!
if you have great credit- you probably would not have- my DH does this for a living- so I know way too much about loans and mortages
Well credit score wise we were good (high 700's), but my husband is self employed so we still had to be alittle creative when it came to financing, but none the less we did alright.
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| Posted 2/24/07 6:25 PM |
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mrsmck
Be a big girl!
Member since 5/05 4898 total posts
Name:
Donna
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Re: at what point do we say enough is enough
We didn't have a problem with the bank, lawyers etc. Our problem was with the homeowner's son, whose name was also on the title. He wanted his "inheritance" from his father and wouldn't sign off on the papers til that happened.
We waited for 2 months, and decided to back out. Their issues are still unresolved and the hosue is back on MLSLI.
Good thing for us, cause we found the right house soon after. 
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| Posted 2/24/07 6:58 PM |
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