Its been 1 month since I sign the loan contract and there still now answer on it? what should I do? will I loose the chance on buying the house?

Asked by Kienlong, San Diego, CA Tue Aug 7, 2012

Last week they ask me for a co-signier and i fax them my aunts info only
I work outside of the US.

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Larry Iest’s answer
Larry Iest, Mortgage Broker Or Lender, Riverside, CA
Tue Aug 7, 2012
i would recommend you contact the loan officer you are working with directly. Communication is critical during the loan process. You need to be kept up-to-date as to what is happening with your loan application. I have a system of updating you and the agents during the home buying process so everyone is on the same page. good luck!
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Aug 7, 2012
With the tightening of credit policies across the Country, Loan approvals are taking a lot longer:
A couple years ago, I could get a Pre-Approval letter in one day, and we would insert a 17 day Contingency for getting the Loan in place.
No more!
And a lot of people are not allowing for it.

I'm working with a Buyer presently, and he wants to visit some houses, and I am firm that he has to get Pre-approved first: If he did see something that he wanted to buy, it would be gone before he could make an offer.

You are at the mercy of your Lender.
You could always find another Lender; maybe have two Apps going at once.

But only that Lender can answer your questions; we cannot.
0 votes
Sally Grenier, Agent, Boulder, CO
Tue Aug 7, 2012
Nobody here can answer these questions for you except the loan officer and your realtor involved in the transaction. Call them and get answers.
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