Mortgage Stress

Is anyone getting the run around with their mortgage brokers? It's been 2 months, and I still don't have a clear to close. The sales person has 'sold' us the mortgage is just that, nothing more than a used car salesman. The underwriter is a sweetheart and extremely knowledgable, however she pulled her back out and has been in and out of the office for the last two weeks. I am/was supposed to close on the 22, and that's impossible now. After cursing out the salesperson, he extended our lock for another 60 days at no charge. I had one woman have the nerve to say to me, 'We have 300 mortgages currently being processed in this building, 50 belong to me. When I finish with my work I will handle someone elses work...', so my mortgage docs that needed to be in asap were only faxed on Tuesday at 5 when I sent them Friday at 1.30pm!!!!! I would pick up and leave, but I need to close by 11/16, an dto make matters even worse, rates have gone up so I would never get my 5.57 somewhere else!!! I am going grey over this and I cry all the time. Is anyone else experiencing this? TO make matters worse, they forgot to do a sellers concesion so I have to pay a fortune in closing costs!!!!!

Please tell me I am not alone, though I would NEVER wish this on another human being....

A seller's concession is not a standard thing and not to be negotiated by your mortgage broker, but by you w/the seller. Most seller's do not pay for closing costs unless they are desperate to sell.

As far as the rest, is there another person at the bank you can speak too, it really shouldn't be taking that long.

I am stressed out too, we don't have a closing date either but we are being held up the the buyer of our apartment, our mortgage is good to go on the other end. We can't lock in until we have a closing date.

Hang in there.

We totally went through that. Our company had our paperwork from the beginning of July and we had to close by Sept 3 to keep our rate lock. For a couple of weeks they kept telling us we were missing paperwork - paperwork we had sent in but we re-sent again. The guy would never return calls and basically when we did catch him, he'd say it was all going smoothly. A few weeks before we needed to close, DH was calling all the time to see when it would be done (hi, they had 2 months!!!,.) We also had to have enough time for SONYMA to be able to cpprove it after our bank. About a week before the 3rd, the guy basically told DH not to worry - they could extend the committment if it wasn't approved and DH asked about the rate and he told him, 'Yeah, you may have to pay a higher rate.' We were SOOO pissed! I was ready to just get him on the phone and just scream at him. In the end, they did get it through - and we closed on the day our rate was to expire. It was ridiculous!! Just keep at them - they shouldn't be able to do this to people!!
Good Luck!!!

They claim the bank is still underwriting our file. They said they physically have everything they need. They are checking our 'conditions' to make sure we satisfied. If this idiot faxed it over in the first place, I would have an answer by now.

I have another property which I bought last year, and it wasn't half as bad as this company. I am so upset. And I'm sorry, I don't care how many other files they are processing, they are dogn me a service. I am paying for this service and they should show a little consideration.

Oh, and as far as the seller's concession, it was agreed upon.... They forgot to add it in when we got our good faith estimate and we were advised to just, 'Suck it up....' and use the money we saved for home improvements towards closing. So this is just another headache for us.

Alias, that is just plain wrong. Whoever made that big mistake should have to reimburse you!

I don't blame you for being so upset.

Laurie, I am sorry
you don't need the stress! Hang in there