How Picky?

[Mr Rex]

103k as in $103,000 over the life of a 30 year loan of $100,000.

 

[Mike Kennedy]

Have your attorney contact the contractor, the realtor, and the mortgage originator.....

suggest postponing the final inspection until you are CERTAIN the work is done per contract.

 

[Mike Kennedy]

If this says anything, we already went through an issue with the appraiser were they wanted to escrow on this repair that was causing a small leak in the basement (it was a tilting slab of concrete of the driveway tilting towards the house). The repair wont be able to be done till late march but we need to close this month to have somewhere to live! The FINALLY waved the requirement to escrow it when they received the info that the repair only cost $250 when you can only escrow a min of $500. If they waved that dont you think they would this?

The Appraiser is obligated to report such "issues". The delay was your lenders' choice.:icon_idea:

 

[Pamela Crowley (Florida)]

Let's see... IF the appraiser were to put in writing that it's all finished so you can close the deal, then it never does get finished... WHO are you going to sue???

 

[Midwest Guy]

My realtor put in that it had to be done by closing, which was originally set for 22nd. we not have it set for the 20th though. Some where (not sure who's fault it was, id imagine my mortgage person)

Your REALTOR, a professional, knows the process. The REALTORS are paid very well to represent you and protect your interests. Your REALTOR assumed financing would go through with a kitchen torn to hell until the day of closing. If they knew no better than their experience level requires broker supervision.

YOU WERE NOT SERVED WELL!

As far as the lock and one day, threatner the Mortgage person (not locking until your closing is terrible) with a nice letter to the Division of Finance, if he does not care talk to the office manager. If the contract, that you or your REALTOR gave him, stated of closing of one day and he quotes a rate that is not good day of closing, you were not served well. He also misquoted you, in a bad game of bait and switch.

 

[CANative]

Rex... What are you going on about with the $103k.

An extra quarter point on a $100,000 loan (7 versus 6.875) would be an additional $3,015.

 

[Hamlet]

Knowing Mr. Rex, it was a typo. Perhaps he has adjusting his aerial and was suffering from attention deficit at that moment.:new_all_coholic:

 

[PropertyEconomics]

Rex... What are you going on about with the $103k.

An extra quarter point on a $100,000 loan (7 versus 6.875) would be an additional $3,015.

A quarter point Mr Boyd is .25% ... actually a difference of $6,013.58 over 360 months ... not that Im being picky.

 

[Mr Rex]

Sorry guys, I'm feeling like death warmed over and not calculating with all my fingers. Maybe crawling under a house will help me clear the cobwebs.