I already asked about flood insurance, but..
How long did it take you to move in to your new house from the time you bid on a house.
Just wondering how long it took from signing the contract until you moved in? I’m thinking like 60 days? This is our first time buying a house!!! Just wondering so I can start planning. Thanks!
Answer by bubbaelea22 at 1:49 AM on Sep. 6, 2010
I am with bubba- we moved across the country twice in this past year (job relos)- securing and finalizing a loan is horrific, even with good jobs, a spotless credit history and huge down payments. The process now borders on ridiculous. The final straw for me was when I had completed signing the loan docs, the agent asked to see a second form of picture ID- I just happened to be carrying my passport in my purse, as we were leaving on a trip out of the country. Yes, that was one surprised agent! I also had my work ID in my car if needed. I wonder if the loan would have been approved had I not produced those documents? Also, you have to be able to account for every penny of the down payment, in terms of origin.
Answer by Sisteract at 12:34 PM on Sep. 6, 2010
We were approved for alot more than this house is selling for and we have a pre-approval letter-
This doesn't not seem to matter anymore. We had those in place as well. Ours were high end homes and not short sales. The tracing of the DP was really interesting. We were putting greater than 20% down, I guess having loads of cash is a "red flag" to some lenders. The housing debacle has reduced all parties to criminals-
Answer by Sisteract at 4:08 PM on Sep. 6, 2010
Answer by happy2bmom25 at 9:26 AM on Sep. 8, 2010
Next question overall
What Do You Do To Help Others Outside Your Comfort Zone?