Widows & Widowers Support Group
This community is dedicated to those who have lost a husband, wife, or partner. Anything is open for discussion here, with the hope that we can focus on grief, bereavement, life after loss, and continuing on after a great loss.
I'm so frustrated, just needed to vent. i decided to buy a home a few months ago. I have 30 percent to put down, so thought it would be easy. Then I got involved with the bank which made all sorts of errors. Now, it's 3 months later. My lease on my apartment is up in a few days. I have no where to live unless I renew now. I can't get in touch with anyone involved in this fiasco, and I'm just fuming with anger.
The latest: I agreed to buy this property but wanted central air installed. The owner agreed and it was put in the contract. The owner said he would install the air once we had a closing date set. This was fine with me. I figured I could have an inspector go with me on the final walkthrough, but now the bank is involved. They want to do a 2nd appraisal because they don't trust the first one. It took six weeks for them to order the first appraisal--this after me screaming the whole time to stop doing the paperwork and do the appraisal first, as I felt the house wouldn't appraise at value. Still, the bank insisted they do it their way. Then the appraisal comes back fine, only for the bank to say they wanted anoter appraisal before they would set a closing date.
Back when I was in a conventional loan, the appraisal was done first, within the first week. Then I was told that I the bank was in error and that I'd need to go FHA, due to my credit score. Note, I've always paid my bills on time, never late, except for when my husband was sick and I forgot to pay my school loan. So my husband died, and my credit score dropped in to the high 600s for the first time in my life.
So, back to the air conditioner. The bank wants to inspect the installation before setting a closing date. The seller won't install the airconditioner until he gets a closing date. And in less than two days, I'll have to pay an additional three hundred a month on my rent- because I dont have a lease. And if my apartment is rented, then I'm out on the streets. All because of the stupid bank.
And we wonder why people aren't buying homes. I'm hearing this type of story over and over from others.
The latest: I agreed to buy this property but wanted central air installed. The owner agreed and it was put in the contract. The owner said he would install the air once we had a closing date set. This was fine with me. I figured I could have an inspector go with me on the final walkthrough, but now the bank is involved. They want to do a 2nd appraisal because they don't trust the first one. It took six weeks for them to order the first appraisal--this after me screaming the whole time to stop doing the paperwork and do the appraisal first, as I felt the house wouldn't appraise at value. Still, the bank insisted they do it their way. Then the appraisal comes back fine, only for the bank to say they wanted anoter appraisal before they would set a closing date.
Back when I was in a conventional loan, the appraisal was done first, within the first week. Then I was told that I the bank was in error and that I'd need to go FHA, due to my credit score. Note, I've always paid my bills on time, never late, except for when my husband was sick and I forgot to pay my school loan. So my husband died, and my credit score dropped in to the high 600s for the first time in my life.
So, back to the air conditioner. The bank wants to inspect the installation before setting a closing date. The seller won't install the airconditioner until he gets a closing date. And in less than two days, I'll have to pay an additional three hundred a month on my rent- because I dont have a lease. And if my apartment is rented, then I'm out on the streets. All because of the stupid bank.
And we wonder why people aren't buying homes. I'm hearing this type of story over and over from others.
I am sorry for what you are going through Truhal. It sounds like all involved are on different pages and simply do not care about your situation. My husband and I bought our house 25yrs ago and if I remember correctly, it was the realtor that coordinated everything. There were continguencies off course, but they were very professional and made certain everything was done prior to the day of closing. What you are going through is somewhat of a nightmare. It may come to the point you may even need a real estate attorney so that someone is looking out for your best interests!
Sadly though that seems to be more of the norm than the exception lately. I have many friends who are all going through the exact same thing. It's infuriating to say the least.
they say that they need to "unload" homes to get things off their books. They say "it's a buyers market" so go out there and get your dream home, at an affordable price, and yet, in each and every case I know of, there have been delays, mis management, errors, and they rarely even say they apologize for the inconvienience, let alone someone like you, who has been diligent through the entire process, did all you were supposed to do, and still no closing!!!
and then they wonder why some people just simply 'walk away" from their homes, rather than trying to sell, or work with their creditors! I hyad went to my bank recently to ask about a home equity line if I wanted to pay my home in full. The BANK told me NOT TO? told me if I get into trouble, just tell the mortgage company I can't pay, and they will work with me then. Keep my money, rather than pay what I owe?!?!?!? It's becoming REDICULOUS out there!
You have my best thoughts that it'll work out, and you will have your home, and this nightmare will be over for you.
Until then..many HUGS to you, and hopes that they get that act together!!! SOON!!!
Diane
OK done venting for you TRU....I feel like a thump in the common sense portion needs to be done...I am ready to administer