Reply With Quote
get the business loan.
I provided the bank with plans for my house in July. She sat on them for a month before getting an appraisal set up or so she said. The appraisal took 5 weeks. She then sat on the appraisal for 2 more weeks and its been in the hands of the underwriter for nearly 5 additional weeks.
So it looks like this
Inquired in June.
Took one month to meet their stipulations and have plans drawn.
Mid July she gets plans.
sat on them till mid August.
lost half my paperwork which I had to resupply.
Late Sept until I saw a finished appraisal.
Sat on it for two more weeks.
Second week in Oct the underwriter gets everything.
We are now in the third week of Nov and they need more comps from the appraiser. No word on how long it will take them to find more comparable property. Its kind of out in a rural area.
Four - Five (really four) months of waiting. You guys know who I am I don't have patience for anything or anyone. I feel like I'm close to getting this done so I've held off on walking but then again I've felt like I've been close to getting this done for some time now. I'm in the hole for 21.5k on this whole deal so that's another reason I haven't walked.
1,500 plans
2,500 earnest money for the contract (which expired because the bank is taking so long) At least the builder has been cool about it.
4,500 sold my Corvette for a fraction of what it was worth to clear the debt and get my debt to income in a happy place.
12,500 to pay off my other car. Again to clear off debt and bring my DTI below 35%.
500 appraisal.
Other than being pissed off about selling the Vette the cars being payed off isn't going to hurt me if I walk other than I would never have parted with such a large sum of money otherwise.
You could say that I'm really only out 4,500 and a car since the other is payed off equity. Still a lot of money to walk away from.
I got great credit. Got great income. Got good time on the job. Everything is aligned properly and I made the payoffs that they requested.
Does this normally take 4-5 or so months? Do people really spend a quarter to half a year arranging a construction loan? At what point do I say enough. I'm moving on?
I probably wouldn't go to another bank. I'd just continue renting and go get the business loan I need to finally get out of this hole of job. Then revisit this build in a few years.
The real question is like I said above.
At what point do I say enough. I'm moving on?
get the business loan.
I'm glad to hear you're taking up walking. It will be so good for your health & well being!
Unfortunately that's mire common than it should be. Everyone is so crazy about every little detail now after all the variable rate bull hit the fan.
Wow I wish I had something helpful to tell you. The only thing I know is that I refuse to walk away from money under any cir stance. Pretty sucky situation.
Patience is also a form of action.
Lucky Numbers: 24, 33, 36, 42, 49, 54
I hate banks and bankers. They are the laziest suckers on the planet. I recently had to re-do a loan and what should have taken two days ended up taking 6 weeks. It was absolutely ridiculous.
As for your deal, the next thing that is going to happen is that you will get a call that your financials are out of date and they need a new financial statement, proof of job, and will have to re-run your credit reports. They won't be able to sell your note with six month old financials. Banks suck.
Thankfully I've been through that. They reran me last month with updated numbers. I wouldn't be surprised if they wanted to do it again since its been a month to 5 weeks since the last time.
Strongly considering walking but if I do I'll have to wait at least two years if not longer before I can revisit this because I'll have lost all that time on the job once I quit. I'm more angry than anything.
I can always have the inquiries removed.
Put others needs in front of your own and that will help with your patience.
Have you considered prayer?
Excellent idea!
I will pray for you B2B.That you have wisdom and much favor in whichever route you go.
Thanks for the perspective. Excellent point.
I always appreciate your support.Excellent idea!
I will pray for you B2B.
Well since you are asking my opinion here is what I would do.
First off go ahead and drop some change on a very decent pair of running shoes. I prefer New Balance and they will work with you to see what shoe fits you best if you go to one of their stores. Next I would probably try to figure out the best time to go, for me I go during lunch since we have a walking trail here at work that is very nice and peaceful. After that it's just a matter of motivating yourself. What I do is I eat my lunch at my desk then tell myself I need to go walk it off even if it was a small lunch. If that doesn't work then just wait for something to piss you off and take your lunch after that. That way you walk off some of that aggression. Maybe even invest in a pedometer and make a game of it adding a few more steps every time you go for your walk. Then again that is just my opinion and I didn't bother reading your post because it looked long and boring and I blew off the other opinions because I saw who posted them.
"Does this normally take 4-5 or so months"
A buddy who is a mortgage broker in southern CA tells me it has become multi-month ordeal there.
He didn't handle any, but Liar's Loans were quick and easy.
sounds kinda hot.
My pleasure. You are good people and I wish you the very best.
You could also sit in your loan officers waiting area and lick a sausage. That will get his attention.
Get his attention or turn you on?
fail. 3rd grade retort.
Just sayin he likes to do it in HEB, might as well do it at the bank.
So you telling him to go lick a sausage in his loan officers office is high brow but me bringing up that it probably turned you on just thinking about it is 3rd grade humor?
It was a direct reference to another thread where he was licking a sausage in HEB dumb ass. You were probably the only one in here too stupid to get it.So you telling him to go lick a sausage in his loan officers office is high brow but me bringing up that it probably turned you on just thinking about it is 3rd grade humor?
Oh I got it. I just don't see how your reference to a previous thread is any different to my reference to your blatant sexuality.
Can we get back to talking about my problems. Other than my sausage licking problems.
Seriously? Your loan officer probably has an underpaid female assistant that does all his work. Talk directly to her and be VERY nice. That will normally speed things up.
Oh yeah, and tell your phobe pussy posse to shut the up.
Right now its in the hands of the underwriter. Has been for a month. I don't think I'm allowed to know who they are.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
