Friday, June 19, 2009

Long Ago and Far Away

    So, following my post below many things have changed for us.  I am not thrilled with any of them, but I am presently dealing as I wait for things to clear themselves up (before I have to step in with a big stick).   
    Following our make it or break it day on the last house, we never received any word what-so-ever from the bank who was currently holding the property.  As a result, we looked at new houses and actually found a place we really liked.  As a pressure move, we went ahead and put an offer in on the new house and it was accepted.  We went to release our offer on the old house and were then told by the real estate agent that the bank had long ago decided never to move on our offer and were instead always planning to hold on to the property until the market was more favorable.  We waited over two months for them to make a decision and they never said one word about not selling to us.
      We happily moved onto our new house and more trouble.    When filling out our offer, our agents had told us that we could easily close in 10-15 days.  I thought that sounded great!  However, when I told my father about this he hit the roof.   We went immediately the next morning to speak with the loan officer at the bank who had pre-approved us and she told us that my father was correct that it would take between 45-60 days to complete the mortgage process...Grrr #1.   So we begrudgingly agreed against our better judgement to go ahead with this mortgage company and asked the sellers to give us an extension on the closing date, which they did immediately.  With that settled we started the long and seemingly unending process of providing the mortgage company with paperwork.  Well 55 days later and we still do not have our house yet and worse yet our killer rate and 0 points have expired.  We are now looking at a much higher rate and 1.25 points, which is nothing close to what we agreed.  I feel like killing someone, but our bank is acting with a secondary mortgage provider who seems to be causing all the trouble.  We have had to arrange a second extension from the sellers on the closing date and are waiting to hear whether the 2ndary mortgage company is going to allow us to keep our old rate (still making us pay the points and adding on a $1800 fee).  I am most angry about the fact that we have done everything right and have always had paperwork to the mortgage provider on the same day it was requested.  We are not the ones who caused this to take so long...IE They are just pushing this out as long as possible in order that our rate will expire and as of tomorrow it does.  
  This shouldn't be legal, but I can't find anyone anywhere to say that we have any way to prove that they have done anything wrong....I hate this process and may never move again once it is done!