Today, a very happy homeowner was handed the keys to her new home, a home to which she had almost lost hope of purchasing.
The story goes back to September of last year (so 2018). It started with a purchase agreement, and a loan application with a different lender.
Various issues caused delay after delay, and the real estate agents dutifully typed up addenda with extensions. When it’s not one thing, it’s another, ever had that feeling? The earnest money was long left unprotected in an effort to gain more time with the sellers.
11 days before the deadline, on a Saturday, I receive a very long e-mail detailing the borrowers struggle for a loan approval. She had hit a brick wall and was in need of a particular exception, one that her current lender was unable to grant. Just her “luck”, it was a holiday weekend, and the resolution would have to wait even further.
On Tuesday I submitted the loan application, and got disclosures out the same day. The long weekend gave me enough time to gather all the required documents and then some. I contacted the real estate agents involved, as well as the title company, and made sure we were all on the same page.
A new rush appraisal was ordered and performed in no time.
9 business days later, we have a “clear to close” (final approval) and closing documents are with the title company.
This is my gratitude post, and my thank you to the armies of people that make things happen, but hardly ever get recognition.
Kudos to the borrower, for providing me with every single document and signature needed (without delay).
Tip of the hat to the real estate agents on both sides that trusted my word and fought to give this purchase one more chance.
As for my loan processor, he is like a cook that effortlessly delivers a perfect meal. I have a vague idea of the spices and ingredients used, but it comes out great every time!
Also, many thanks to countless others involved and unnamed, whose roles may seem small, but that made big differences. The best teamwork comes from people independently working towards one goal in unison.
Did everything run nice and smooth from start to finish? Of course not, it was nerve-racking until the last moment.
Would I want to go through that again? Absolutely.
What’s your mortgage trouble?
Send me an email with the details, and maybe I can help: [email protected]
