Stay with your current lender - pay for the pool at closing - be happy you can close on time
Try to renegotiate deal with seller and have them cover for the pool at closing
Speak to a new lender and get a realistic time frame as to how fast they can close and what terms they will provide to you.
Keep us posted as to what you end up doing.
You do have the right to switch lenders - I would speak with your bank to see if they would still be able to meet the closing date. If not and you need someone that can offer you the best rate and the quickest turn time then please give me a call. I can close you in 7 days and I will be able to offer you the lowest rate and fees
Senior VP of Mortgage Lending
773 290 0455
The key issue is if the closing date gets pushed back will the sellers be ok with that, this is what you should discuss with the attorney.
It's unfortunate you're going through this nightmare. In the eight years of being in the business and have personally closed thousands of purchase loans, I cannot tell you how many times i've heard this story over and over again.
I would definitely change lenders. There are plenty reputable lenders that will get the job done.
Unfortunately, there are lenders that employ unexperienced part timers that have no business being in this business.
If you want an honest opinion and the best programs/rates in the market, call me today!
I will get your loan done in 7 days. We're licensed in all 50 states and located in Chicago
The Federal Savings Bank
Senior Vice President - Mortgage Lending
You may be better off just paying for the pool difference out of pocket.
I am sorry to hear the position you are in. You are right over the course of the loan with FHA you may be paying more over the life of the loan because of the way FHA handles PMI, My suggestion is to contact Sam Sharp below. I always recommend my clients go with the lender at Guaranteed late because of their expertise and ability to get loans completed in a timely manner.
Best of luck,.
This is a tough question to answer however it all depends on how far along you are in the loan. Most likely it wouldn't be an issue if the seller agrees to give you an extension.
Sohail A. Salahuddin | Founder and Team Leader
Innovative Property Consultants Group | Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030
"Extraordinary Service For Extraordinary Lives"
This is a question your agent should respond to or your loan official.
How far into the process you are, the terms and conditions of the purchase agreement, the speed at which the second lender can close and the cooperation of the home owner are all issues strangers on the internet can not assess. Call your agent. You will be AMAZED at what can be done, but don't waste time trolling for opinions from those, like myself, who simply have no access to crucial information. Your agent knows what to ask of the second lender and will be able to assess the consequences of failure of lener two to perform.
It would be helpful to other buyers if you were to identify the lender who allowed you to get into this mess.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Grou[
Palm Harbor, FL
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