Skip to main content

Hoping For A Commitment Soon


On Saturday July 20,  I received a letter from my HSBC loan officer stating that I needed to provide more documents in order for them to process my loan application.  The letter stated that all these items needed to be addressed or else they couldn't move forward on my loan. The document had outline a 22 item request list, some of which I had already submitted weeks earlier.  Another of which, I hadn't received the relevant document from the loan officer to complete. One question asked me to verify that 15% of my current home was not being used as a home business.  I was confused. Why is my loan officer requesting information that she already received or not provided to me? Furthermore why is she asking me questions regarding a home business that doesn’t exist? I thought at first that she may have gotten my file confused with someone else’s. I quickly wrote her an email asking for her to explain. Of course, I got no response. To her credit, it was Saturday. On Monday morning,  I called her and to my surprise she actually answered the phone. I asked her about the letter and she immediately feign not having any idea of what I was referring. I told her about the letter signed by her with her contact information. Her classic response was, the letter must have been sent by the processor (underwriter) without her knowledge. Really? I thought.  How unprofessional.  After having a minor panic about the short period of time to send these documents, I have finally completed the task today. I’m feeling relieved but not overly confident. I’m hoping to get a commitment letter this week. I stated in an earlier post that I have made mistakes in this home buying process and one of those mistakes was not shopping around for a mortgage. However, I can’t say for certain that my experiences would have been different with, Chase, Capital One, etc. Since I have had this experience, I have been soliciting information from others and have heard similar horror stories. I have learned that HSBC doesn't have a monopoly on giving buyers a hard time. My underwriter asked me to submit three years tax returns while my coworker had to submit four years tax returns. I have been in contract on this home for two months. But others have taken up six months to close on their homes. I should consider myself lucky, at least they have not denied me a loan completely.

Popular posts from this blog

Welcome to My Blog!

Hello, my name is Marissa. I’m new to blogging. I don’t have a degree in design and I’m not a professional decorator. I just love decorating.
I love home improvement and design shows. I love HGTV and apartmenttherapy.com. 
My favorite shows are House Hunters, The High Low Project, The Property Brothers, Love It or List It and Property Virgins.
I’m also in the process of buying my first home, a cooperative apartment in Brooklyn, NY. Buying a home is a giant step but it’s also an expensive one too.
I have big plans for my first home. However I'm now realizing that most of the work I planned for the home, I can't afford.
I have been looking for a home for several years, but seriously looking for about a year. Most of my friends live in Brooklyn. I live and work in Brooklyn so it only made sense for me to stay here. But Brooklyn real estate is not cheap.
My Coop wish lists were: a two bedroom apartment, with lots of closet space, natural light and windows in the kitchen and bathroom. I…

Debt Free Journey

In the last few months,   I started 2 new jobs and bought a car. But let me start at the beginning.  In 2016, I made a resolution, along with the usual lose weight promises of years past, this year I had a plan of focusing on my financial future. Managing my debt. I asked myself what goals I wanted to accomplish in 2016 and developed a plan of how to accomplished those goals. I made a vision board and then I drew my own mind map. I was watching motivation videos on YouTube and TED talks. I would watch Suze Orman and Dave Ramsey and be inspired. I was on a goal of financial self-improvement.
I made it a goal to find a higher paying job with my company. I mastered the “tell me about yourself” question and practiced my response in the mirror. I was confident. And after multiply revisions to my resume, careful crafted cover letters and multiple interviews, my hard work paid off. I got a job. Yeah me! Three years after graduate school, I finally got a job in my field.  With new job came …

Budgeting and the New York Lifestyle

The other day I met up with my good friend, Tracey, for lunch. These days we always seem to talk more about our careers and financial matters.  Tracey and I are in the same career field but have different kinds of responsibility. My job, for a large government agency, requires me to spend long hours on my feet and travel to many locations. Glamorous it’s not but it allows me a lot of autonomy. Tracey works on a yearly contract for a University in Manhattan. I live in Brooklyn with a roommate. Tracey lives in Manhattan with a roommate.
Tracey complained about her lack of autonomy and job security.  Tracey, like many people, feels that she is underpaid for the life style that she wants to live. I mentioned several times in this blog how totally uncool I am. I don’t hang out in trendy coffee shops and don’t spend long hours queuing to get into the hottest new restaurants. I don’t have a gym membership. Instead I take great pleasure in finding free and inexpensive things to do around the …