Angelina Hall
New Member
- Jurisdiction
- Pennsylvania
I was referred to a Mortgage Lender to apply for a home loan from a co-worker that used them for re-financing. I received a pre-approval from the lender and found a house that I wanted. I made an offer and started the process June 21, 2021. The loan that I was going for is a USDA loan and I gave the lender all of the required documents. To make a very long story short, the tax transcript for 2019 became a huge issue because of the way it was filed and I needed to get a adjusted transcript. That was almost impossible due to the whole covid issue and the IRS offices, etc. I actually went to the local office without an appointment and was able to get my taxes stamped by the agent and supplied them to the lender. I gave them every document that they requested throught the 30 days. My closing date was supposed to close on 7/30, but in the last week before I was informed that they could not do the loan with the documents I provided. They said they we would need to try another route and we might be able to close on 8/6. They again kept me in the dark, even though I was receiving updates from the lender portal on the progress of the loan. I received emails from the Title company that the title cleared and emails from the different departments within the Lender's company what to expect next. I had a settlement apointment set for 8/6 at 10 am and received an email on 8/5 from the lender to confirm who they call during the settlement to verify my employment one last time on 8/6. I gave them all of the information. The realtor, the seller, the title company all were set to meet and make it happen. In the afternoon of 8/5, I get a call from the lender to tell me NO we are not closing, we need this document (the adjusted tax transcript that the IRS themselves told me was not going to be processed) that they knew about 2 weeks or more before. I did supply them with the adjusted record of account from the IRS and the stamped IRS tax returns prior to all of this and they never once told me until less than 24 hours before closing that it would not be accepted. I had to move out of my current place on 8/6 because it was already rented out so I had to go to a hotel. I didnt know what to do at that point, but found a new lender that I went through everything with them and they felt there should be no issue with being able to do the loan. Now the seller had to agree to another extension for 8/31, but they said the only way they would do it is if I pay their August Mortgage and if the loan does not close by 8/31 I forfeit my excrow money. I am in so deep now that I agreed and gave my trust in the new lender that he can get it done. They just informed me that the apprasial that I paid $525.00 to the old lender for has lots of errors and are having issues with the appraiser explaining why he made all of the errors. They found it to be very abnormal for an appraiser to make these errors, but have asked him to correct them. They are now having trouble getting in touch with him now. I have asked the current lender to call me this morning since we are less than a week from closing yet again to tell what he knows at this point. I have paid over 2K in hotel bills, do not know if the apprasier will fix the issues, do not know if they will be able to get another appraisal done in time and I truly do not know what kind of recourse I have with the prior lender. I came from CA and bought a house over 12 years ago there with little to no issues. I do not know the process in PA, but it has been a complete nightmare and I am just asking for a little advise as to what I should do.
