Home buying mess...

[Blondy876]

My dh and I are buying our first home and we are supossed to close this Thrusday. We thought we had everything in place and ready to go, but then we get a call today. We contacted our insurance guy last week for homeowners and after reviewing everything he said "No problem, we'll issue the policy Monday." Well, today at 3:30 he calls us today to say "Ummmm,no we won't be issueing your policy, you are in a high traffic area." The high traffic area is a convienece store and fire station across the street. The FIRE STATION is across the street and they still won't issue it. Unbelivable!!!

Now we have a 12 noon deadline tomorrow to get all the necessary paperwork into the underwriter and no homeowners insurance. We did find a local company that will issue us a policy but were still not entirely sure it will be done in time.

Since we are buying a HUD foreclosed property we only have 60 days from the bid acceptence to close. Our 60 days are up on Friday. For each day we postpone it costs us $25. And that's IF HUD allows it. It is very likely they will come back and say no to an extention. We would have to start all over, lose our $1000 good faith money that we put down and the other $1000 that we have spent to have different certifications done.

I just needed to vent, thanks for "listening"

Jenn

 

[Melora]

We have just purchased our 3rd home and nothing ever goes as smoothly as one would like..... We were all set to close and suddenly we find out that the credit union wouildn't release a check from the family trust because someone called and talk to my mom (who has advanced Parkinsons Disease and does not know what is going on) and she said she didn't know anything about a large check being written out of the account... So they wouldn't clear the check and insisted my mom come down to OK the check even though she had been declared incapable of carrying out any trust duties and cannot walk at all or talk very well.... we were running around to lawyers and doctors trying to get all the paperwork showing her no longer on the trust all the while the clock was ticking away with less than a few days left and all the money we needed tied up.. we finally worked it out but it came right down to the last day, even the last hours to get our money in time to close....

I hear your pain and wish you well..... What I kept in mind all the while I was fearing it wouldn't happen was that if worse came to worse, there were other houses.. not very comforting but I guess it helped a little. (Of course my biggest fear was that we would never be able to get the money and then we'd get NO house!)

 

[Michelemouse]

Three days before we closed on our house the bank told us we had to pay off a car loan or we wouldn't get the mortgage! "Oh...sure."...we said. We just happen to have $4500 just lying around that we can use! Not! We ended up having to borrow the money from DHs parents (which we paid back over the next year or so).

I am sending pixie dust your way to help get the issues straightened out and am hoping you have a smooth and uneventful closing.

 

[Beauty]

We had this happen too...the MORNING we were to close on our house they called and said we had to pay off J.C. Penny (WHAT!) or the mortgage wouldn't go through.....We were just luck enough that we did have the money in savings....It was only around $1200 dollars...really weird.

Good Luck!

 

[Dan Murphy]

Wishing you the best, Jenn. I bet it will all work out okay. {{Hugs}}


Dan

 

[MrsPiglet]

Thought we were the only ones at closing.

everything went fine, we were suppose to close the first of june. then they said we needed to close by may 23. Okay no problem.

The insurance company ended up delivering the policy to the bank the same time we were all meeting to close, so we had to wait for two hours to get all the papers. this was after they decided we needed to pay off an old meidcal bill the day before and luckliy I just charged it to the credit card.