I am beyond pissed right now. Our mortgage broker has completely fucked us over and I have just come to understand the full extent of it now. We (8grand and I) we’re supposed to close on our house this past Friday. I got an e-mail Friday morning from our broker saying we weren’t closing that day because the bank would not clear the loan to close. Prior to that, I had not spoken to the broker since Wednesday, when she acted as if everything was just peachy. So after the e-mail Friday, no one heard anything from said broker. It was as if she vanished. In her e-mail she said our next opportunity to close would be tomorrow, 12/18. This opened another can of worms as Dom and I took several days off of work in order to start moving on 12/14. We both have to work this week. So fast forward to today…I finally had enough and decided to take matters into my own hands. I called the bank to try to find out what was up. Basically, they would only say that we will not close tomorrow. I then called the owner/supervisor of the mortgage company and explained the situation. She had no idea about any of this. She called the bank and got some info. The original mortgage broker finally e-mailed our realtor (Foz on pittspeed) saying that the bank denied our loan because of my credit score. For reference, my score is around 620, Dom’s is around 780. She had told us before that we would have no problem because Dom’s score is good. The previous reason she gave as for why we didn’t close Friday was because I didn’t get a bank statement to her in time. Mind you, this was the third bank statement I sent her. She claimed she couldn’t open it in an email pdf or html. So we tried faxing it to her. Her fax machine was off. I talked to her about an hour after this, and she says to fax it in the morning. This is Thursday, when we finally fax it. I tried calling her for hours on Thursday to make sure she got it and to find out what our final closing costs would be (the seller is paying most of them). I got no response until 8:25am on Friday when she e-mailed Foz and I saying we would not close because of the delay in receiving the bank statement. No mention of our loan being denied, or any issue with credit scores. She said in her e-mail that our next opportunity to close would be tomorrow. So Foz and I have been emailing and calling her nonstop and never got any response until I went over her head to get some answers. The owner of the mortgage company is going to try to get us approved with a different program/bank. She says she may be able to get us closed within a week. If all else fails, we will have to get a different mortgage company/broker. I apologize for the rambling. I’m running on no sleep and I’m very upset right now.
I’m sorry this happened to you guys, buying a house isn’t easy, less so dealing with mortgage people.
The closing of the house should NEVER have been scheduled until you had loan in hand ready to be applied, and that sounds like a mix of bank/broker screw-up. Your scores are NOT god-awful, there are plenty of people out there financing homes with less net-worth that you. I’ll PM you in a sec with more info
Sorry to hear…buying a house is stressful, let alone these kind of problems.
yea, that sounds about right. 
good luck
I feel for you, as sad as it is I hear your story about 100 times over the course of my day. Seriously a lot of title companys slack/drop the ball and then feed a load to people. I hope it works out for you, goodluck!
I’m closing on my new house tommorow. I used West Penn Financial in the strip district and couldn’t be happier with their treatment.
If you want specific contact information, I can get you contact information for our loan officer. I’d recommend him to anyone.
The mortgage broker led everyone to believe that she did indeed have everything taken care of and the funds we’re available. I’m willing to bet this was completely broker screw up. The funny part of all this…If we ever get in our house, she lives up the street. On a side note, :bigok: to Foz for all your help and putting up with this nonsense.
Foz is a real chill dude.
West Penn is plan B if the owner of our current company can’t fix this.
Don’t hesitate to deal with West Penn if you need to. I have nothing bad to say about them.
I got aprooved for a house w/ my ex with no where near either of your scores!!!
Not sure why you had such a problem getting a loan.
All in all it sucks. Im sorry you are going through this, but its just not worth stressing over. Breath!! lol It will work out, usually for the better.
It cant get any any worse right?
One day at a time…thats all you can do. Just take it easy…itll get better!
We’re sticking with LoanStarr for now for a few reasons. If we stay with them, it may only take a week to get us closed. If we completely switch brokers, closing companies, banks it may take 2 weeks, lots of hassle, and paying some repeat fees (appraisal, loan application fee, etc). We have to be out of our apartment by the end of this month. So, if we haven’t closed on the house, we will probably have to stay with Dom’s parents. Dom’s parents are nice, but I don’t want to live with them :ugh:
We should not have had a problem getting a loan. Truly makes no sense to me. But yes, it can get worse. However, tomorrow is my 21st birthday…So at least we aren’t moving tomorrow afterall :bowdown: I just want to be in our house before Christmas. Thank goodness I didn’t pack our clothes and dishes yet. Comcast was supposed to turn off the cable and internet on Saturday, yet here we are on Monday and it’s still on. All the utilities are on and in our name at the house. Already paid for the homeowners insurance :dunno:
wow that sucks… I have heard/seen this sooo many times. My mother was a real estate agent for 10 years. Getting a good mortgage broker is key to a successful purchase. Did you guys get a prequalify sheet before you started looking for homes?
That’s what we did when we bought our house…no problems what so ever. Had a good rate locked up for 90 days too.
Yes, we we’re prequalified. That’s what pisses me off even more.
that makes no sense then… Oh well, your mortgage will be bought out in a few weeks anyway so you won’t have to deal with the bank thats messing with you.
I’m surprised they locked a rate that far in advance. I think the dumbass locked ours maybe a week, if that, before we were supposed to close. That was after me demanding she lock it. So, our pre-approval was for 6.5% and she locked us at 6.875% :bash:
I really don’t think it’s the bank. It seems to be the broker. The bank was pretty straight with me when I talked to them.
I locked my rate at prequalify like bics. What type of loan did you go with? 6.875% is high isn’t it?