Home Buying in 54901>Question Details

Samanthaolso…, Home Buyer in Oshkosh, WI

What to do if my loan was never submitted?

Asked by Samanthaolson32, Oshkosh, WI Tue Nov 20, 2012

We are in line to purchase a home, original close date was Nov 9th, switched to the Nov 16th and now to Nov 30th. I cant seem to get information on what the heck is taking so long with USDA Rural, so I called them personally this morning and found out that my file was never even submitted! Mortgage company claims that is was submitted last Tuesday and that we are just waiting to hear from USDA. What the heck am I supposed to do with this information? USDA says that they are not behind on processing loans, working on the files that were submitted yesterday!

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Samatha sorry to hear about your dilemma. First of all I would ask your lender why it was just summited last Tuesday. You should have communcation with both your Realtor and your lender. I do know that USDA Rural seems to take longer getting the loans than other programs. You said your orginial close date was November 9th, so when was your offer accepted and what was your loan commitment date? Your Realtor and your lender should go over that with you. We had a deal over a month ago with USDA Rural and we closed a week late because they needed more information before closing. I love to know how it turns our for you.
0 votes Thank Flag Link Tue Nov 20, 2012
USDA Rural has my file now! The mortgage company thought that the underwritters had already submitted it, I guess they wanted to make sure that everything was perfect before they submitted the file, which is a good thing, but let a person know what's going on! Hopefully it won't be too much longer until I find out when I can finally close, I put the offer in on October 2nd and was accepted the same day. The home did need some repairs, but those were taken care of and completed by November 1st.
Flag Tue Nov 20, 2012
I agree with Amy - contact your Realtor, immediately!
0 votes Thank Flag Link Tue Nov 20, 2012
I have a rule of thumb in who I personally work with. I choose to work with those that I trust and those that perform over time. There are always other people, companies, etc. who will give the same service. It is a matter of reputation and trust in my book.
0 votes Thank Flag Link Tue Nov 20, 2012
Contact your real estate agent.
0 votes Thank Flag Link Tue Nov 20, 2012
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