I was supposed to close on a home on Friday..and then Friday turned into Monday..and then it turned into Tuesd

Question

what's going on? they gave me the clear to close on Thursday, come to find out they're still verifying information. why give me the clear if it wasn't? i can't get anyone on the phone to talk to me..my agent..loan officer..or the underwriter..i'm in the dark..what should i do? bank is countrywide by the way..and i already met the conditions for final approval. my husband not on the loan, but they want to check his employment history???

Answer 1

call the bank and file a presidential complaint, these complaints are powerful tools.  The husband issue is odd, if your the only one that applied, there's no reason for this issue, unless he was added for income.  If they are checking his employment history, he may have been added to the loan

Answer 2

No one closes on the day they say your closing is. That is just how it works.

Answer 3

Call Consumer Affairs. Also talk to your real estate attorney, or even get a second opinion. To me it sounds like your agent is giving you the run around. If nothing is done to help you, then go to a lawyer and find out your legal rights and show him/her a copy of your contract, then perhaps you should pull out before matters get worse. So many banks recently have gone out of business and as a result, they do not want to give loans anymore, and they are making it impossible to even obtain a loan for a home. Another possibility is maybe your agent and loan officer is having just as much trouble getting you the official closing date as everyone else is having. I mean, look at all the foreclosures these days!!!

Answer 4

Countrywide was recently bought by Bank of America. You might try calling B of A to find out what is happening with your closing.

I agree that this scenario seems very strange. "Clear to close" should mean just that.

I don't know what state you are in, but I would let the people you've been dealing with (loan officer, agent, loan officer's manager ..... everybody), that you are going to contact the state Department of Banking & Finance (or the equivalent), and file a formal complaint.