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Closing day for escrow, or is it?

By
Real Estate Agent with Coldwell Banker DeAnza Realty

Well, today I was suppose to close escrow on a property.  All the paperwork had been completed when I got a call this morning from the other agent saying we need an addendum taking one of the buyers off of the contract!  What?!  Apparantly the lender didn't want one of the 2 buyers listed on the contract because he was not essential to the loan.  And they waited until today because...?  So instead of enjoying a nice glass of wine and putting up my feet, I am in limbo hoping that this sale actually does go through tomorrow and not fall victim to the list of failures that seem to be taking over the lending world.  Cross your fingers for me.

Jane

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Joe Bartolotta Florida's Upfront Mortgage Broker
Fidelity Mortgage Services - Altamonte Springs, FL
Sounds a little fishy to me.  The lender/mortgage broker should have known this much earlier in the transaction.  Good luck and my fingers are crossed for you.
Aug 16, 2007 03:22 PM
Frank Laisch
Orlando, FL
"The Insurance Guy"
UGH, I am sorry to hear that! with the way the lenders are today you never know whats happening from day to day. I have seen lenders send packages to close and then not fund because they are questioning the apraisal and pull the funding.... I hope your closing goes smooth, Good luck tomorrow!!!
Aug 16, 2007 04:15 PM