Yesterday I gave some additional papers to the bank to prove that we really have sold the 2001 windstar a year ago and don't own anything on it, and that the mortgage of the rental property is really what we claimed it to be and so on.
At 2:30 pm I get a call from them, saying that I need to give them the tax returns for the years 2001 and 2002 once again as they lost them during the move of the branch !!!!!!!!! They need them again because we asked for bridge financing for one week, and they can't locate them !
This is happening just 12 days before we close !!!! Where the stuff they have been till today ? I have been calling hem almost everyday for the last two weeks saying they are running late with the funds and I am very concerned !
ANyways, I am told I have to reproduce them and of course they have to be exactly the same with the previous ones I gave , no working copies or can't redo it kind of stuff !.
I use a software program to do our taxes, and I know that I have them on my PC downstairs in the basement. BUT HAD I DELETED THE INSTALLED TAX SOFTWARE as that PC didn't have much disk space and I wanted to listen to music while PACKING EVERYTHING IN THE BASEMENT ! Including the tax software !!!!!
So I am so panicking, I have to find the software !!!!! Me and DS start opening all the boxes ! A lot of them !!! And we have to look at inside of all the boxes ! We find the software for 2001 and 2000, but 2002 is not anywhere to be found ! It comes in one of those puny packages and I know I packed it ! 2 hours of a search and nothing ! And they absolutely need the 2002 !
I find the CD of the 2001 in a safe place, and say to myself, hey this is supposed to be in its own box, and open the big cartoon of the 2001 tax software to put the cd in ! And the whole box of 2002 tax software is in there ! How lucky I am, if that CD was not left outside, I would never ever look inside that box and find the 2002 one !
Luckily they both got activation permission from Quicken and I can now print the returns and give them to the bank.
What a scare it was ! By BP was 137/89 afterwards :( I still feel uptight about the whole thing. I was already tired from a long day and was looking forward to a relaxing evening ......
Anyways all seems to be well right now .....
Think BP lowering thoughts, Birol!!!
As Happy Gilmore sez, "go to your happy place!"
Anyway, glad you found the disks and codes you needed. I seem to delete programs just before I need them on a regular basis! It's reassuring to know I'm not alone in that!
:mad: :mad: :mad: :mad: I know exactly what you have been through. It seems like the banks want their customers to do everything except give blood when applying for a mortgage. They keep coming up with the craziest stuff and it's because some "underwriter" that they sell the loans to in the secondary market is having a bad hair day and is looking for "something else" to find out.:eek: Some people really get tired of the whole mess after a while, especially if the lender doesn't get everything all at one time and it becomes a weekly request for something else. After a while, it gets to be a big joke.
Quote from: B-flat:mad: :mad: :mad: :mad: I know exactly what you have been through. It seems like the banks want their customers to do everything except give blood when applying for a mortgage. They keep coming up with the craziest stuff and it's because some "underwriter" that they sell the loans to in the secondary market is having a bad hair day and is looking for "something else" to find out.:eek: Some people really get tired of the whole mess after a while, especially if the lender doesn't get everything all at one time and it becomes a weekly request for something else. After a while, it gets to be a big joke.
I am even madder ! AFter finding th cd's, I called the bank and told them, I can provide them with the tax returns once again, and got no calls. I called them yesterday and told them, hey I have it, and nothing ! No call backs, no request for it. They either found it or they are incompetent :) Actually the lady who is helping us is very very good, and helping us with a lot of stuff, but I wish they would let me know that all is ok now. Only 8 business days to go till we close and silence is not comforting ....
They are busy baking pumpkin pies and sweet potatoe pudding back in the bank vaults at this time of year, Birol. Everything stacks up and gets moved to Monday when things return to normal.
Quote from: B-flatThey are busy baking pumpkin pies and sweet potatoe pudding back in the bank vaults at this time of year, Birol. Everything stacks up and gets moved to Monday when things return to normal.
A small chance that mortgage might not be given I have been told :( I think it will be sue sue sue time for everyone :mad: :(
Why does this have to happen to me ?
Why do I have to put up with all this stuff ?
I am just going to forget all about life today and play computer games ......
Quote from: birolA small chance that mortgage might not be given I have been told :( I think it will be sue sue sue time for everyone :mad: :(
Why does this have to happen to me ?
Why do I have to put up with all this stuff ?
I am just going to forget all about life today and play computer games ......
Just got THE call from the bank ... all is ok once again, it was too scary ! We go tomorrow to sign all the papers :D :W :S
Good News! We need more of that around here!
Birol, the day we went to sign the papers for our house, we STILL weren't sure we'd actually have everything go through! SO STRESSFUL!! At least you have plenty of people here who can totally sympathis with you! I feel for you buddy! :S
Quote from: Acts 2:38 girlBirol, the day we went to sign the papers for our house, we STILL weren't sure we'd actually have everything go through! SO STRESSFUL!! At least you have plenty of people here who can totally sympathis with you! I feel for you buddy! :S
It has been such a roller coaster ride today ! Thanks for the support :p
I think that high stress is a prerequisite for buying a home. We went through all sorts of nonsense when buying our first home (which we still live in) 14 years ago.
The final week of closing, the city wouldn't do final inspection, because of some minor street issues that the builder still had pending. Therefore, the uttilities would not come out to turn us on. Even still, I wasn't about to close escrow without final inspection!. I happened to be working graveyard shift that week, so with all the stress, phonecalls, etc., I hardly slept at all. :mad:
My brother, who did a short stint in the Real Estate business, then gave me some advice:
"No one makes any money, until the close of escrow. They all want to get their money, so make them do their job, and earn it. Believe me, they will do whatever it takes to make the deal close."
My brother was correct. We closed escrow on a Friday, and had a little problem getting the uttilities turned on. During that time period, 1989, we were in the middle of the last big housing boom. So, there was a two week waiting list to get the electricity turned on, and they wouldn't schedule it, until we had final inspection.
This was one occassion where working for the electric company worked to my advantage. I called a few folks, and lo, and behold, Saturday, we had our meter set! This was important, as we HAD to move due to expiring rentals, etc, and I didn't relish trying to move into a new home with no lights. My neighbors who were also moving in to their new houses that weekend, had no such luck. So, we strung an extension cord down the street to share the light! :)
Good Luck on the new Casa!
I think that high stress is a prerequisite for buying a home. We went through all sorts of nonsense when buying our first home (which we still live in) 14 years ago.
The final week of closing, the city wouldn't do final inspection, because of some minor street issues that the builder still had pending. Therefore, the uttilities would not come out to turn us on. Even still, I wasn't about to close escrow without final inspection!. I happened to be working graveyard shift that week, so with all the stress, phonecalls, etc., I hardly slept at all. :mad:
My brother, who did a short stint in the Real Estate business, then gave me some advice:
"No one makes any money, until the close of escrow. They all want to get their money, so make them do their job, and earn it. Believe me, they will do whatever it takes to make the deal close."
My brother was correct. We closed escrow on a Friday, and had a little problem getting the uttilities turned on. During that time period, 1989, we were in the middle of the last big housing boom. So, there was a two week waiting list to get the electricity turned on, and they wouldn't schedule it, until we had final inspection.
This was one occassion where working for the electric company worked to my advantage. I called a few folks, and lo, and behold, Saturday, we had our meter set! This was important, as we HAD to move due to expiring rentals, etc, and I didn't relish trying to move into a new home with no lights. My neighbors who were also moving in to their new houses that weekend, had no such luck. So, we strung an extension cord down the street to share the light! :)
Good Luck on the new Casa!
Steve-O-bud, you were a real neighbor and probably made a life-long friend helping out another neighbor. Yes, everyone does earn their money once closed. I've had 24 years in the business (hope it's ok to say that here) and have found there seems to be some last minute glitches but I do everything in my power to earn "you were great." In the end, that is all that matters and it matters more than the money. There are so many things that have to be done to move toward the closing and it takes great coordination. It's usually some town or govt. problem holding up an inspection on a new house. Until something gives, then it goes nowhere. Finding the way to make things move forward often isn't easy and one just has to keep digging to find the answer to the problem. I understand all the stress and have gone through it all myself dealing with all the people who are involved. Just preparing yourself and realizing that some last things might turn up will help to calm a buyer to some extent. Getting cooperation from others often isn't easy.
Okay enough on the bank.
If your bank is constantly loosing your paperwork, do you really want them to be your mortgage lender? What if that happened to your payment you mailed?
I have worked in the Mortgage business for over 17 years, I now sell REO's for the company I work for. What are REO's, well they are the homes that have been foreclosed on. Do we make money on those homes? NO (that was a big NO). We dont want your house we make our money from the interest when you pay for it over time. :p
What you are going through in the underwriting process is typical, maybe some discrepancies have been eyed. I still dont know how you can qualify for a new home with only a paper route, as E-bay income would not be considered and is inconsistant, I know because I have worked with underwriters. Tax returns are very important pieces of documentation to the the underwriting aspect. If you duplicate on your software an incorrect form that was submitted to the government or was not what you gave to the the government your loan application would be considered a fraud.
I really smell something is not right and have from the beginning of this whole transaction. (yes I have been following it)
You may need that pop-up afterall :J
You may have to take a pill after reading this, not to upset you, but reality is a good thing, education is better. ;)
I hope it works out for you, if not let it go and get on with the job hunt. Things happen to those that wait.
B
Quote from: mowalkerOkay enough on the bank.
If your bank is constantly loosing your paperwork, do you really want them to be your mortgage lender? What if that happened to your payment you mailed?
I have worked in the Mortgage business for over 17 years, I now sell REO's for the company I work for. What are REO's, well they are the homes that have been foreclosed on. Do we make money on those homes? NO (that was a big NO). We dont want your house we make our money from the interest when you pay for it over time. :p
What you are going through in the underwriting process is typical, maybe some discrepancies have been eyed. I still dont know how you can qualify for a new home with only a paper route, as E-bay income would not be considered and is inconsistant, I know because I have worked with underwriters. Tax returns are very important pieces of documentation to the the underwriting aspect. If you duplicate on your software an incorrect form that was submitted to the government or was not what you gave to the the government your loan application would be considered a fraud.
I really smell something is not right and have from the beginning of this whole transaction. (yes I have been following it)
You may need that pop-up afterall :J
You may have to take a pill after reading this, not to upset you, but reality is a good thing, education is better. ;)
I hope it works out for you, if not let it go and get on with the job hunt. Things happen to those that wait.
B
The branch moved and that is why they mis-located the papers originally, and that is how this whole thing started. Later that day they found the papers and started to re-process them for the bridge financing for a week. That is why I haven't been contacted anymore to bring the papers once again. The person who was looking at the bridge financing thought that we shouldn't be getting the mortgage at all, and it was referred back to the people who originally approved the loan. That is why there was a small chance that it would not be approved anymore.
We have been very straight forward with the bank from start and told them that, ours is only a wish as the builder is giving us a great deal, and if we can't get it, so be it. They asked us for all of our documentation, and approved it based on the real figures we gave them. Actually they were the only bank even to touch us. Two other banks refused to even evaluate us for a mortgage, which I knew they would. The people we were dealing with this bank know us since 1997, and have a through understanding of our financial situation and how we manage our financial side of the family.
If you remember, when we first started this whole process, I (think I) mentioned that it would be a very close call, and that they would do their best to approve it, but that we shouldn't hold our breath. It was a big surprise when we got the approval, I couldn't believe it myself, it was a dream.
As for you feeling that something is not right, and the implication of fraud, what can I say, it makes me sad to hear it from someone I considered to be a friend. I might act goofy at times, but I am not a criminal.
No I won't need a pill, why would you think I would need "a" pill ? What kind of "a" pill ? :D I also don't do drugs :W
Quote from: Steve-o-budI think that high stress is a prerequisite for buying a home. We went through all sorts of nonsense when buying our first home (which we still live in) 14 years ago.
The final week of closing, the city wouldn't do final inspection, because of some minor street issues that the builder still had pending. Therefore, the uttilities would not come out to turn us on. Even still, I wasn't about to close escrow without final inspection!. I happened to be working graveyard shift that week, so with all the stress, phonecalls, etc., I hardly slept at all. :mad:
My brother, who did a short stint in the Real Estate business, then gave me some advice:
"No one makes any money, until the close of escrow. They all want to get their money, so make them do their job, and earn it. Believe me, they will do whatever it takes to make the deal close."
My brother was correct. We closed escrow on a Friday, and had a little problem getting the uttilities turned on. During that time period, 1989, we were in the middle of the last big housing boom. So, there was a two week waiting list to get the electricity turned on, and they wouldn't schedule it, until we had final inspection.
This was one occassion where working for the electric company worked to my advantage. I called a few folks, and lo, and behold, Saturday, we had our meter set! This was important, as we HAD to move due to expiring rentals, etc, and I didn't relish trying to move into a new home with no lights. My neighbors who were also moving in to their new houses that weekend, had no such luck. So, we strung an extension cord down the street to share the light! :)
Good Luck on the new Casa!
You area good guy letting him have power like that :) He will like you forever I bet. and thanks for your post. It made me feel better. Things will and do go wrong, and they get straightened out ! :S :W
Birol, as moewalker wisely pointed out, people who handle these things for banks are usually pretty sharp and if you were guilty of "fraud", they'd have recognized it LONG before now, so dont worry, no one thinks you are a criminal. And I'd think anyone like you who has had so many holdups or glitches might need to take a pill--at least a couple aspirin. Banks handle hundreds of thousands of "pieces of paper" so it is not surprising that now and then a papertrail gets totally screwed up. Just try to be patient with them despite deadlines and plans not working out smoothly
If bank mortgage requirements in Canada are anything like they are here, your tax returns will tell them all they really need to know to judge your qualifications for obtaining a mortgage. Since they found you acceptable, you'll soon find yourself moving into your new home, so dont waste time fretting, just make sure to get your packing done ;)
There's a loan out there for almost everyone or the banks/lenders wouldn't make money on them. I find that lenders are extremely careful these days. I also remember the big S&L (savings and loan) scandal of several years ago and that there are a big number of foreclosures when the economy is bad. The nearby military community goes through a lot of foreclosures when there is a war. Those properties are usually sold quickly and then someone else is then making mortgage payments.
Birol, I think you will proably be moving very soon and that things will work out for you.
Quote from: B-flatThere's a loan out there for almost everyone or the banks/lenders wouldn't make money on them. I find that lenders are extremely careful these days. I also remember the big S&L (savings and loan) scandal of several years ago and that there are a big number of foreclosures when the economy is bad. The nearby military community goes through a lot of foreclosures when there is a war. Those properties are usually sold quickly and then someone else is then making mortgage payments.
Birol, I think you will proably be moving very soon and that things will work out for you.
I think all the bumps have shown their faces already. We are scheduled to go to the bank later today and sign all the papers. Moving company is arranged, lawyer is on top of the whole issue, looks like all I have to do now is keep packing.
Birol, that's wonderful news. I hope everything goes well for you and that the move is not too stressful. I have moved twice in 8 months and it was not easy. However, the hard part was sorting through years of accumulation of "stuff", deciding what to keep, and donating the useful items items to a Barbain Box. The Bargain Box then sold the items in their store and donated the money to charity. I was given a tax slip for my donations in case I itemize deductions on my tax return. Yes, moving is stressful but I used the same movers each time and they did a fantastic job putting everything in the house exactly where I wanted it.
Quote from: B-flatBirol, that's wonderful news. I hope everything goes well for you and that the move is not too stressful. I have moved twice in 8 months and it was not easy. However, the hard part was sorting through years of accumulation of "stuff", deciding what to keep, and donating the useful items items to a Barbain Box. The Bargain Box then sold the items in their store and donated the money to charity. I was given a tax slip for my donations in case I itemize deductions on my tax return. Yes, moving is stressful but I used the same movers each time and they did a fantastic job putting everything in the house exactly where I wanted it.
All is done, all is well :D :D :D :p :p :W
Are you packed and ready to move?
Quote from: B-flatAre you packed and ready to move?
You bet !!!! TOmorrow I will pack even more stuff, including the software I dug out :rolleyes: :W :S :eek: :p
So, you are almost ready for the move. That's wonderful. I hope the move is easy and you get settled in very quickly.:)
Quote from: B-flatSo, you are almost ready for the move. That's wonderful. I hope the move is easy and you get settled in very quickly.:)
The pressure is off I guess, my BP went crashing down to 109/71/67 all day yesterday :)
Quote from: birolThe pressure is off I guess, my BP went crashing down to 109/71/67 all day yesterday :)
This is GREAT news for all of us, Birol, now maybe you can move onto some other fascinating subjects like The Fun of Moving, The Joys of Unpacking at 2 AM, The Pleasures of Foraging for Food, The Satisfactions of Seeing Your Toaster Oven Again, etc. ;) :D
Hey, Buddy, well done! You came here and vented your worries and the details of the delays and look--you got through it fine and came out in the end with VICTORY! It must be mighty sweet to know that your faith in yourself (and the faith we all had in you) was well placed.
A favorite author (Faulkner) ended one of his most powerful novels with a fitting description of two of his central characters by saying simply, "They endured." Sometimes enduring is the most important quality you can have in a time of troubles and constant delays. You get the medal! :S
Quote from: NightOwlThis is GREAT news for all of us, Birol, now maybe you can move onto some other fascinating subjects like The Fun of Moving, The Joys of Unpacking at 2 AM, The Pleasures of Foraging for Food, The Satisfactions of Seeing Your Toaster Oven Again, etc. ;) :D
Hey, Buddy, well done! You came here and vented your worries and the details of the delays and look--you got through it fine and came out in the end with VICTORY! It must be mighty sweet to know that your faith in yourself (and the faith we all had in you) was well placed.
A favorite author (Faulkner) ended one of his most powerful novels with a fitting description of two of his central characters by saying simply, "They endured." Sometimes enduring is the most important quality you can have in a time of troubles and constant delays. You get the medal! :S
I have a medal :) I have a medal, na na na na naaaa :p :D
It took us two weeks to find our toaster! By the time we were finishing up moving out we were throwing things into trash bags labeled" Odds and Ends" - most likely never to be opened till next year or longer!
I was going to open a can of soup to eat late one night while unpacking...couldn't find the box with the can opener. Got in the car and went to the local hamburger fast food 5 minutes before closing and got some food, went home and collapsed onto the couch and ate from the coffee table. There were too many boxes to even bother with the dining room table.
Quote from: B-flatI was going to open a can of soup to eat late one night while unpacking...couldn't find the box with the can opener. Got in the car and went to the local hamburger fast food 5 minutes before closing and got some food, went home and collapsed onto the couch and ate from the coffee table. There were too many boxes to even bother with the dining room table.
yesterday I was stapling a promotion paper to the envelopes, and ran out of staples. I didn't open any of the boxes, I was going to go and buy a box of them, but luckily I found another stapler lying around, with some staples in them, solved the problem ! It is amazing how much you need something when you just packed them !
Seems to be "MURPHY"S LAW" at work. What is need is never around when you need it, but it sure will be there in your way when you don't need it. Also, my favorite is the one where you never use something for years and years, but throw or give it away and you will sure need it with the next week.:J
These are always happening to me:mad:
Quote from: angelsmom10Seems to be "MURPHY"S LAW" at work.
What is need is never around when you need it, but it sure will be there in your way when you don't need it.
Also, my favorite is the one where you never use something for years and years, but throw or give it away and you will sure need it with the next week.
:J
These are always happening to me:mad:
Hey, we are human beings, we remember the bad things in short term, that's our nature, for happy memories I think looong back, hey wait, I couldn't talk with any girl, I was shy and I would blush, and my hig school grades were horrible, hmmm, maybe not so long term :), I will come back to you on the time period for happy memories :)