So mad-- our closing got cancelled!

This whole house buying process has been nothing but difficult the whole way. Finally, we thought we were catching a break and our closing was set earlier than expected, so i packed up just about everything, DH took off from work, and we were all set. Well, it turns out that our mortgage broker (he claims it is the bank's fault, but whatever) tells us yesterday that he doesn't have everything back from the bank b/c of the American Home Mortgage collapse (I think this is just an excuse) and that unless he doesn't get everything back today, our closing will be canceled. Well two very stressful days later, he failed, and now we have no closing date.The sellers are mad, I am really mad, and the sellers REA has been stalking me. My lawyer told me not to call him back and screen my calls, though. I am so sad about this whole situation!

Did anyone else have an unusually stressful ordeal getting your house?

Re: So mad-- our closing got cancelled!

Ours was horrible. We swear we will never move again because of the stress it caused us.

Re: So mad-- our closing got cancelled!

I hate mortgage brokers. I had a horrible experience with one before I finally decided to deal directly with a bank. I hope you have a mortgage commitment letter.

Re: So mad-- our closing got cancelled!

i haaaaaaaaaaatede our broker
he was very 'used car salesmen'

he told us to sign docs without reading (which were all wrong-we'd neevr sign stuff without reading... )

he told us our rate would lower.. lied tried to hike it last min... we got our org. promise rate

he'd call 10 times.. never leave a messege (to boht me and my dh's phone).. then finally email the info ...

he told us we coudl do without escrowing taxes/insurance but he said we coudlnt 3 days before closing ....

he new i hated him,.. b/c id call him out on his b.s.... he'd send me 10 emails with smiley faces and !!! (i hate over use of ! haha) and then deny he did stupid stuff before (which i already ahd email proof of him doing)

THEN he had the NERVE day of closing to stop by our new house and try to say hello.. he did drop off a $150 gift card to home depot.. but that 150 doesnt make up for him being a tooollll...............i was covered head to toe in paint and he's tryign to have a convo with me... im glad im done with him

well im sorry for my rant, i just wanted to let you know brokers STINK!!! (im sure theres a few good ones but i haven't heard any yet)

don't worry it will work out... is your rate locked for another week or so till the hold outs over? def. let your laywer take care of the broker.. we had to do that in the end b/c he was so two faced/double talking

tons of

it will be all over soon then ull be in ur beautiful new

Re: So mad-- our closing got cancelled!

Our broker thinks I am crazy b/c he never calls me or returns my calls, but he calls back DH right away and answers when he calls! It is so frustrating. DH thinks that this whole situation is not the broker's fault, but it totally is b/c he lies to us and told us well over a week ago that we were fine! Now everyday, he is saying that the bank needs something else. His reasoning for the cancellation, of course, had to blamed on me-- the bank needed to verify my employment (I am a teacher), and he tells me that they tried to call at 4:00 on Friday. Hello-- no one is there at 4 on a Friday in the summer!

Re: So mad-- our closing got cancelled!

Can't you verify your employment with paystubs, or do they want to speak to someone? Now that I think about it, my broker needed a phone number for me, so maybe they do need to speak to someone.

I'm sorry to hear you are having a closing nightmare. Ours was delayed by a month, but it wasn't due to our broker. The sellers had needed COs for some work they did, then the town lost their paperwork, so it was a mess. We were able to extend our lock (for a fee, which the sellers shared with us). This part made us nervous though, because we kept seeing rates shooting up, and we were concerned that this might have dragged on longer than it did.

I'm not sure what you can do to move it along in your situation, but I would ask your attorney to assist perhaps.

Re: So mad-- our closing got cancelled!

that stinks!!!!!!!!!! I hope it gets straightened out.

WE had some issues it was our lawyer then their lawyer....so annoying

Re: So mad-- our closing got cancelled!

Yes, we had a similar situation, so I can feel your pain and frustration. Our sellers cancelled our closing at 3pm the day prior of our scheduled closing. I was beyond livid. I too was packed, DH was all set with work and my hands were tied because they legally had 2 more weeks. We finally closed on Friday, 2 days later than the contract allowed. I hope you get a new date very soon!