Pending means that it's in escrow. The seller has accepted an offer. Backup offers are secondary offers in case that the offer t in escrow for some reason does not go through then the back offer will go to escrow and finalize the purchase.... more
Now all that you need to do is find a place to live and make an offer. There are tons of homes (not just condos) in your price range in the Valley. You may not know it, but you can also afford houses in some parts of L.A.. I recently wrote an blog called 'The Most Affordable Homes in Los Angeles: $500k and Less' that may be of interest to you.
Each company operates differently. My people would always need to rely on me. The question is how experieced is the loan officer. The processor and I work closely with each other. I may have negotiated a rate price and a loan detail item with the underwriter that the processor may not know about when you call. Therefore I am always the contact person. If the LO appears to be totally flaky go with the processor.
I am a hands on loan officer. There are some who do nothing but take the application. I know every detail of every loan.
Sally W. Hamby
Pine State Mortgage-Atlanta... more