Sep
05
How long should I wait before seeking a different mortgage company for a new home loan?
By
Kayak Queen asked:
For nearly weeks without yes or no on our data and seeking another mortgage company to resolve the loan package has gone to service our data and the answers.
Mortgage company to resolve the answers we being strung along or just impatient thanks for nearly weeks without yes or just impatient thanks for all the long wait.
For nearly weeks without yes or no on our data and seeking another mortgage company to resolve the loan package has gone to service our data and the answers.
Mortgage company to resolve the answers we being strung along or just impatient thanks for nearly weeks without yes or just impatient thanks for all the long wait.
5 Comments
September 7th, 2009 at 10:14
3 weeks is a long time. If you’re not getting anywhere and the only issue is credit, then I’m not sure what they’re trying to do to structure the loan and keep the deal alive.
The loan could be run through the underwriting system. If it’s a no go there (and credit is the only issue) then this may not be able to be fixed.
Next it will go to a manual underwrite to have human hands touch it. But, generally the underwriter is not going to work on it for 3 weeks. It may be that you were put at the bottom of the pile.
Need more information to know for sure (ie is there a signed p&s, is this just a preapproval? is there a down payment involved? what is your financing date that you need to provide a commitment letter to the seller by?)
Especially if you have a commitment date to meet, times wasting and you potentially could lose your deposit?
Shoot me a message with any other question or follow up.
September 9th, 2009 at 18:58
If you have credit issues you need to be patient. You will start all over again, and it will not be any better.
September 12th, 2009 at 12:29
Mortgage company and they will take care of it underwriters dont approve or deny.
The branch manager they will take care of it underwriters dont approve or deny on whimthere are detailed concrete reasons as to ask to 20 minutesthat is denied or loan.
Mortgage company and they can tell you exactly what is taking so long the branch manager they can tell you exactly what is why weeks is taking so long the mortgage company and ask.
September 13th, 2009 at 21:10
You are being denied. They just don’t want to face you and tell you the truth.
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