Re: Turning to the experts here - Posted by Rhonda
Posted by Rhonda on October 11, 1998 at 18:03:27:
You are absolutely right about everything, as usual. My problem stems from trying to believe for so long that these people were trying to do theirs jobs. I’ve closed on many houses, and I’ve never been up against anything like this. My faith in the “experts” has paid off in the past. This school of hard knocks isn’t fun at all.
About my realtor, this guy claims to have been in the business for 20 years. I bargained for a 3% commission, and he seems to think that he doesn’t have do to any work at that price. He even told me that, should an extension fee be required, he won’t travel the 30 miles to get it to the closing company, because he thinks the loan company is screwing me. If only this weren’t a Hud deal, with all their legalistic rules, I would be doing everything you suggested, and I really still need to kick everyone’s butt. I’m sure loan companies get people into these types of situations all the time, where the clients want the house so bad that they will take the bull.
But, I’ve got a secret. I happen to know that the loan guy I’ve been dealing with sent the appraiser back home to rewrite the appraisal (in other words, cheat), so that it would pass. The problem was that the garage has been closed in, but not completely finished as a room, so he had the appraiser call it a carport or something. I’m sure this sort of thing happens all the time, and at the time, I was happy about it. But, it’s not something he would want an unhappy client to know. I could tell him I’m going to blow him wide open if he doesn’t pay for the extension and get this thing finished. But, could that backfire on me?
My closing deadline, set up by HUD, was Oct. 10th, which was Saturday. Because it fell on the weekend, it went to the next business day, which should be Monday, but everything is closed because it is Columbus Day. So, after a three day weekend, I have to find out what I can on Tuesday morning, including requesting Hud to waive the extension fee.
Yes, JPiper, I knew all of the things you mentioned, but I was stupid. He kept telling me that it would happen tomorrow, and I believed him until the time ran out. This has taught me more of a lesson than I was ready to learn, since I am probably going to lose a house that I had big plans for. I really wanted to live there, too. My biggest problem, besides all the feet dragging, is that they let me pay for all that stuff, and accepted the loan knowing that I would lose my earnest money if it was accepted. Then, the day they accepted it, they called to tell me about the change in the GFE, and that they hadn’t locked in an interest rate.
I remember very well the conversation I had with them about the interest rate. I said I wanted to lock it in, and it was when the rate had jumped up a little for just a couple of days, a few weeks ago. He advised me to wait a few days, and if it didn’t go down he would lock it in, and if it did, he would surely lock it in. I gave him my permission to do just that. So, I believed that he had done it.
This is getting too long, but, if they don’t get the papers in by Tuesday morning, and if they won’t pay for the extension, I’m going to blow their whole scam wide open, including the BBB, and an attorney who will help me file official charges. Causing someone to lose a house, and cheating during the process, and lying…aren’t those good enough charges?
Thanks for all your advise.