We got the latest screwing from our lender on Tuesday. (4 days before closing day)

Jeremy and I had everything pretty much set for closing. (Friday) We had the moving truck set up, utilities, address change, all packed up, walk thru with our leasing office set, appraisal was done, home inspection done for a month, attorney scheduled, and everything. While Jeremy and I were out running errands Tuesday afternoon we got a call from the lender. Now keep in mind that everything was “all set” according to them. No more problems.

So, the lender calls and says they want a “reserve” set up. They want to make sure the mortgage payments can be made in the event of job loss. With the way the economy is right now the lenders are trying to be “safe”. In order for the loan to go through they need to see a minimum of three months worth of mortgage payments and etc in the bank account. We were shocked. How the hell are we supposed to come up that much money in 4 days! They tell Jeremy that it can be a gift from family members just like a down payment can be from family as long as they can provide documentation that its their money, they can afford it, and so on.

Jeremy, regretfully, has to call his father, explain the situation, ask for money, and promise to give it back right away. His dad calls the lender and gets all the information from her. Randy calls Jeremy back and says he will lend Jeremy the money as long as he gets it back to them right away. We were so thankful! I can’t believe they had the money and agreed to lend it to us. That was really wonderful of his parents to help us like that. So, Jeremy’s dad had to call his out of state bank and have a bunch of shit faxed to our lender, drive half an hour plus away to the nearest branch location of our bank so he can make a deposit into Jeremy’s account…A very time consuming and stressful process for him. So Randy gets all this done in one day – amazing and truly awesome of him!

So, the money is in the account for closing. Can we still close on Friday? NO. It turns out that there was a problem with the appraisal. The lender picked out a half ass appraiser who, naturally, did a half ass job. I guess the appraiser had noted some things and stated in the report to see attached photos and papers and never actually attached them. That meant they had to wait on getting in touch with the guy and waiting to receive them. Supposedly, that is all taken care of though. They received everything but that still delayed them by a few days. That wasn’t the main problem though.

The main problem was the lender also took their sweet as time getting certain things in order and are now really behind. They said closing would have to be pushed to around the 7th or 8th of July but it may be later than that. All they can give at this point is an estimated date. Wonderful, right? Drop all that 4 days before we were set to close after we had everything set and ready to move Friday night. Lovely. At least they admit it was their fault, I guess. Legally they are allowed to push closing day up to 30 days past the original closing date. That is bullshit when they wait until so close to closing to change it.

This would not have been a problem if we would have requested a time is of the essence clause for closing. That would have guaranteed us to close on the agreed upon date. They legally would not have been able to piss around and delay the closing. I wish we would have known about that sooner! Yet another mistake on our part, I guess. We asked and read up on the home buying process and yet we were still so ill informed.

We were supposed to be out of our apartment by the 30th of this month. 3 days after closing day. So we were really pressed to get everything set and closed. Jeremy called the lender and our agent numerous times to try and push everything along and no luck. They said there is no way to close for about another 2 weeks or so. Thought they did assure Jeremy that it has nothing to do with anything on his part so the seller can not hold him in breach of contract for delaying the closing. I guess that is one plus. The Realtor tried to get the seller to let us move in on Friday anyway. I guess its allowed as long as the seller doesn’t mind. Well, ours minded. He said no.

We spoke with our apartment office and thankfully our apartment was not rented yet. They agreed to let us stay in the apartment up until the 12th of July. Hopefully, we can close by then! Otherwise, I don’t know what the fuck we will do for a place to stay. Oh, and the apartment is charging us rent at a premium rate for those 12 days, $26 a day. Normally it would be $19 a day. So now we have to pay $312 for 12 days rent instead of $228. We expected to have unexpected expenses but its really starting to rack up with all this shit going on.

Supposedly, there should be no more “unexpected” problems now. All that is left now is to wait for them to get all the paperwork and shit in order and then once that happens we can finally close. I just wish they could give us an exact date instead of saying the best they can do is estimate a closing day. I love how they don’t care that some people have non-flexible work schedules to work around. They don’t care, they are getting their money regardless of delays.

So Jeremy re-scheduled all the utilities, called to notify the home owner’s insurance agent, moving truck, and all that.

Home buying is a fucking nightmare. Its so chaotic and messy. You sign a thousand papers to get everything in “order” and yet, nothing planned stays planned. It all gets rushed, thrown together at the last minute, and then delayed. There is an insane lack of communication between all parties involved. The lender waits days to notify us of something, never calls before 3:30pm when she needs something “right away” and they close at 5:00pm. They are so horribly unprofessional! The one time when you NEED something structured exactly down to the last detail and it can’t happen.

When we first started looking for a house it was February. There we were thinking we were starting the process way to early. The Realtor told us closing would take a month if even. Yeah right. We’ve been closing since APRIL. Next time we’ll have to make sure we have 6 moths for closing to happen.