Re: 2 thumbs down—MCR Funding Florida - Posted by Sandy FL
Posted by Sandy FL on March 20, 1999 at 10:34:11:
One of my real estate attorney buddies saw this
happening at the closing table (for a closing he was
handling for the buyer). The first time, they played
ball. They went back and obtained the piece of paper
the lender suddenly needed, on the day of closing,
after the lender had already committed to doing the loan.
The closing was rescheduled.
The second closing day, again the same stall tactic.
The lender needed some piece of documentation that they
could have asked for 30 DAYS AGO. So my friend the atty called the lender’s BS and stated that if they did not close the deal today, they would be getting a bill from the buyers attorney and the sellers attorney for time spent sitting at now (2) closings where no closing took place.
I guess they did not want to pay for 4+ hours of attorneys time so they suddenly decided they had all the documentation they needed and wired the funds.
(I do not know who this lender was.)