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krwm
<3
Member since 7/05 3466 total posts
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Most miserable experience...
This whole house buying process has been the most miserable experience all bc of our mortgage broker. Turns out last week when we should have closed the company he works for was bought out by another company so our "file" was basically ignored for a the entire week we were scheduled to close.
Yesterday he told us he had our commitment letter and would send to my lawyer, well my lawyer has yet to receive anything. I'm afraid if I call him I'm going to say something I shouldn't so dh called (broker is dh's friend) and he says he can't give us a close date b/c his processor is so backed up blahblahblah..at this point is there anyway to get rid of this guy?
I don't know what else to do, dh and I have both spoken to him several times and keep getting the run around...I'm truly at a loss. I just went off on dh about for no reason just bc I can't fathom that a friend (dh's not mine) who we decided to give business to instead of going somewhere where this would be done already, can be screwing us around like this..I'm sick.
We also locked in for 30 days which will be tomorrow and he keepts telling us that we shouldn't worry about it bc we won't be penalized bc his company has "pull"..good one right :rollingeyes:
I just needed to vent bc I'm losing it and maybe someone will have a suggestion.
Message edited 5/9/2006 12:34:34 PM.
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Posted 5/9/06 12:33 PM  |
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BrunetteMom
LIF Adult
Member since 8/05 1480 total posts
Name:
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Re: Most miserable experience...
ugh what a pain!! I'm so sorry that you are going through this! Did he extend your lock-in period?
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| Posted 5/9/06 12:40 PM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Most miserable experience...
Posted by BrunetteMom
ugh what a pain!! I'm so sorry that you are going through this! Did he extend your lock-in period?
Supposedly...I don't believe a word he tells us anymore.
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| Posted 5/9/06 12:45 PM |
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BrunetteMom
LIF Adult
Member since 8/05 1480 total posts
Name:
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Re: Most miserable experience...
Make sure you get it in writing. Regardless of whether he's your (or your DH's) friend, this is business. I know it's not pleasant to mix the two but you have to do what you have to do.
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| Posted 5/9/06 12:46 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19453 total posts
Name:
L
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Re: Most miserable experience...
Run...do not walk....go find another broker or loan company. Whether or not your DH and this so called friend remain friends is up to your DH, but to me the relationship would be over. Go with your gut.
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| Posted 5/9/06 12:58 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Most miserable experience...
You don't think it's too late to go with another mortgage broker? They are supposed to be closing any day now.
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| Posted 5/9/06 1:06 PM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Most miserable experience...
I just called him and told him that the seller informed us he is going to back out of the deal if we don't close by Friday. He called me back 5 minutes later to tell me that the commitment letter was in his hands and being faxed to my lawyer now. We'll see....now that was only our big mortgage we have two and one supposedly is still in the processors hands....I really don't know what to do anymore
Wouldn't it be too late to go elsewhere at this point?
Message edited 5/9/2006 1:16:22 PM.
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| Posted 5/9/06 1:15 PM |
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BrunetteMom
LIF Adult
Member since 8/05 1480 total posts
Name:
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Re: Most miserable experience...
I know that if it were me in your position, as much of a pain this all is, I'd hate to start all over again (whether or not it's the right thing to do). I would hate to have to try and get a better rate, lock in, and go through the whole processing. With that being said, I think you are handling it properly and I would continue to hound them to get everything done. I would also get that processor's name and extension and call her directly to be sure that your file isn't just hanging out on his/her desk. I wish you much luck!
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| Posted 5/9/06 1:27 PM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Most miserable experience...
Posted by BrunetteMom
I know that if it were me in your position, as much of a pain this all is, I'd hate to start all over again (whether or not it's the right thing to do). I would hate to have to try and get a better rate, lock in, and go through the whole processing. With that being said, I think you are handling it properly and I would continue to hound them to get everything done. I would also get that processor's name and extension and call her directly to be sure that your file isn't just hanging out on his/her desk. I wish you much luck!
Thanks so much, I do have the processors name and will do just that. I will give her a call this afternoon. I guess I'll just keep on him to make sure things are getting done, its just frustrating that I feel like you can't rely on anyone to do their job correctly anymore....
Thanks again...
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| Posted 5/9/06 1:29 PM |
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patti08
Happy
Member since 5/05 3893 total posts
Name:
Patti
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Re: Most miserable experience...
If I were in your poition and 1 more delay or apparent lie happened I'd insist on speaking to his boss. Friend or not this guy is putting you in a bad position and you have to draw a line. This could cause you to pay a higher mortgage rate or even lose the house and your downpayment.
I hope it all ends up working out quickly and smoothly for you.
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| Posted 5/9/06 1:35 PM |
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lucyloo
nope
Member since 1/06 9758 total posts
Name:
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Re: Most miserable experience...
No suggestions just 
Our closing was a nightmare also. The processor at the morgage company went on vacation and just left our file there.
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| Posted 5/9/06 4:21 PM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Most miserable experience...
Posted by dita
No suggestions just
Our closing was a nightmare also. The processor at the morgage company went on vacation and just left our file there.
unreal...again no one can do their jobs..it amazes me.
After constant harassing and white lies  we'll most likely (I say most likely bc at this point who the hell knows) will be closing Friday. We should have our second commitment letter by today/tommorrow morning and then full speed ahead...  I think I've had a headache for one month straight...
Thanks for all your reponses...
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| Posted 5/9/06 4:24 PM |
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Liz
LIF Adolescent
Member since 5/05 674 total posts
Name:
Liz
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Re: Most miserable experience...
I cannot believe that the broker is acting like that, I can't believe even more that he is your DH's friend! How does he treat people that aren't his friends  . Unfortunately this happens all of the time, a case of "the squeaky wheel gets the oil."
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| Posted 5/9/06 4:30 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Most miserable experience...
I am so sorry to hear what you are going thru. Maybe express the seriousness of the situation to your husband so that he can put more pressure on his friend. Its really hard when you mix business with friendships. I feel like this whole industry is full of people who are less than honest - mortgage brokers, realtors etc. It's really terrible that it is like this.
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| Posted 5/9/06 4:41 PM |
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jaysee00
LIF Adult
Member since 3/06 1647 total posts
Name:
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Re: Most miserable experience...
I don't have any advice, just wanted to send these your way- 
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| Posted 5/9/06 6:48 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Most miserable experience...
Posted by lululu
I am so sorry to hear what you are going thru. Maybe express the seriousness of the situation to your husband so that he can put more pressure on his friend. Its really hard when you mix business with friendships. I feel like this whole industry is full of people who are less than honest - mortgage brokers, realtors etc. It's really terrible that it is like this.
Kristen - you LOVED your realtor didn't you??? Besides - what realtor would help you install pergo floors? 
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| Posted 5/9/06 7:22 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: Most miserable experience...
a full service kinda realtor!!! 
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| Posted 5/9/06 10:01 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Most miserable experience...
Posted by MrsERod
a full service kinda realtor!!!
Nothing but the best for my peeps!!! I'm an all inclusive deal!
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| Posted 5/9/06 10:04 PM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Most miserable experience...
I must say my REALTOR is the BEST!! She does real estate, installs floors, listens to me rant about my mortgage broker, the list goes on and on!
an update: Contacted the processor yesterday and she said she was working late last night (emailed me at 11pm) and got everything that was needed to the bank yesterday. She said that our bank told her that our second commitment letter to be ready this morning. So we're "most likely" closing Friday...I really hope we do, this has been such a nightmare!
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| Posted 5/10/06 10:00 AM |
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BrunetteMom
LIF Adult
Member since 8/05 1480 total posts
Name:
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Re: Most miserable experience...
Great News! Although I will not congratulate you until you do close
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| Posted 5/10/06 10:03 AM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Most miserable experience...
Posted by BrunetteMom
Great News! Although I will not congratulate you until you do close
lol thanks
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| Posted 5/10/06 10:19 AM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Most miserable experience...
Alleluhia! Alleluhia! Sing it with me!!!
J/K - You are actually not far off from when you thought you were going to close anyway. We may have hit some bumps in the road but we're getting there!
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| Posted 5/10/06 10:23 AM |
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BrunetteMom
LIF Adult
Member since 8/05 1480 total posts
Name:
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Re: Most miserable experience...
Trust me, I know firsthand, I went through a NIGHTMARE with my house and the closing.
Not only did the mortgage process HURT, but the sellers got sellers remorse and were trying to back out!!! So the closing itself was not a pretty site! the woman who owned the house (it was her and her soon-to-be-ex-husband), gave her b!tchy daughter power of atty. because she refused to attend the closing. And this whole awful process took about 5 months from start to finish. It was awful. BUT it was well worth it in the long run!
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| Posted 5/10/06 10:25 AM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Most miserable experience...
They still haven't heard back from the bank  I think I need a valium....
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| Posted 5/10/06 12:12 PM |
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KaRiSsA
~*~*~*~*~*~*~
Member since 5/05 4646 total posts
Name:
KARISSA
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Re: Most miserable experience...
Posted by krwm
They still haven't heard back from the bank I think I need a valium....
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| Posted 5/10/06 12:43 PM |
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