I Never Promised You Some Loan Docs

Dear Mr or Mrs Lender/Underwriter.  Please learn the following phrase – “I do not know when the loan docs will be in escrow” this would save all of us so much grief. While on the surface this may seem like a tough and unpleasant thing to say ….it actually is so much easier to deal with than broken promises. Repeated promises that loan docs will be appearing in escrow – then never materialize are making the home buying public stark raving mad!

I am sure your job is tough and there are lots and lots of rules and regulations you must follow before releasing the file.  Honestly, I do get it. You shoulder awesome responsibility with heavy consequences for errors. So hopefully this suggestion actually helps you.

All we ask is the truth. You see we are asking because on our side of the table we have real live humans that have jobs, kids, travel plans to confirm, work obligations, elderly parents, movers to schedule, contingencies to remove, contract dates to adhere to. All of that can be managed so much more easily when we have the truth.

The problems come when days off work are scheduled, baby sitters are hired, movers are paid in advance and plane tickets are bought – and the loan docs don’t materialize. Each time it happens it is explained away – each time we are asked for our understanding and patience as if our steak dinner is 5 minutes behind schedule. Then in some cases when it happens multiple times everyone else in the transaction starts to get “residual egg on their faces”.  Some buyers don’t get what is really going on – and then escrow and title and even the poor Realtor start to get the blame.

So please remember we can wait – we can deal with I don’t know – just tell us the truth.