Wednesday, March 07, 2007

My Realtor

On why I don't have my money from the house yet...

So I thought the borrowers were just being spastic pinheads that coudldn't get their shit together and kept forgetting documents.


So apparently, the stock market went bimpity boom.
Lenders have to be able to sell their loans on the secondary market.
Stock market going bimpity boom means that things need to be adjusted, tightened or loosened, based on the market.
So when it went bimpity boom, some requirements on the loans changed, and those changes needed to be incorporated into the documents and resigned. So this took time. Like, four days so far. Okay, three days. But still.

The good news is....

The buyers signed all their paperwork at 3 p.m. today. Which means all the paperwork went to the lender tonight, to be HOPEFULLY recorded and funded tomorrow. I can not imagine WHY it would not be recorded and funded tomorrow, but I'm sure if the lender can find a way to not fund it until Friday, then the lender will use it and not fund til Friday JUST to torment me. However, I'm pretty confident I'm going to get my money since I don't believe anyone would allow the buyers to actually sign closing papers and go to their new home with their new key if they didn't have the loan funding set up. My realtor didn't want to say they would fund tomorrow. This is because she said they'd fund today. I think orginally they wanted a 24 hour doc review, but had agreed not to for this loan. I don't know. I just want my damned money.

So, any lender legalese guys/gals out there who can tell me what the frack is going on or was going on? My realtor insinuated that we weren't the only ones suffering this, and that it was all new ground since it's been so long since the market went bimpity boom.

Anyone? bankers? lenders?
Pretty please?

1 comment:

Jean-Luc Picard said...

Realtors are not the easy people to sort out!