I just recently was getting financed for a property that we were buying on lease option. I was working with my mortgage broker to get financed and everything was going as planned UNTIL....a couple of days prior to closing! I get a call from my broker saying that the program that he was going to put me in is NO LONGER AVAILABLE!!
How could this have happened?? I was supposed to sign docs tomorrow! Now the lender wants me to bring in $10,000 at closing AND increased the interest rate on me. I was in a mad scramble to get the loan closed.
Luckily I get a referral from a friend who told me about a bank that could get my loan through. I called him and it took me 2 weeks to get the loan through! YEAH!!
I feel bad for all the mortgage brokers out there that have to go back to their customers and tell them that the program is not available any longer and they have start from scratch again. I know it's not your fault! It's just very frustrating for everyone involved.
I just wanted to show my love to the mortgage brokers that have been going through all this mess. Good luck to you.
WA Real Estate Solutions
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