Skip to main content

“all good things comes to those who wait”

Is it odd that though I haven’t got a closing date, I have already chosen paint colors for my new home? Forget closing, I haven’t even gotten a mortgage commitment as yet.  Like I have mentioned before, I have chosen to focus on the more positive aspects of homeownership than on the things that are out of my control, such as the underwriting process. As frustrating as the mortgage process has been, there is no doubt in my mind that I will not receive the approval. This waiting is just part of the journey.  Most things now appear to be so instantaneous (we get emails and text messages on our cell phones. We can track the arrival of the buses and trains on an app) that we have become accustomed to having everything right away. But there seems to be something for that old adage, “all good things comes to those who wait” or “patience is a virtue”.  I’m trying to put it all into perspective.
This morning at about 9:20 am, I received a forwarded email from my attorney regarding the lack of loan commitment. The buyer’s attorney wanted to know the status. I was at work and in the middle of doing something important though I was immediately overcome with worry. At around 11:20 am I phoned my HSBC mortgage loan officer. She answered the call and we had a brief conversation about my concerns, she stated that she knows I must be frustrated and she will call me back in 15 minutes. 15 minutes came and went. There were no telephone calls. No emails. Then at about 2:30 pm I called her back and left a very detailed message asking her to return my call. Then I called again and conveniently received her voicemail. Still there was no call backs, no emails. At this point I was quiet annoyed. My realtor texts me to let me know that she has also contacted the loan officer and have not received a call back. The realtor was concerned that she wasn’t contacted about the appraisal yet the file was sent to underwriting. I texted her back, “does appraisal happen before underwriting?” She replied “yes”. Now, I was worried. What type of incompetent bastards was I working with at HSBC?  

I called my counselor from the community organization, which had assisted me with acquiring down payment assistance and he tried to calm me down from off the ledge. He quickly shot off an email to the loan officer to respond. So here we are now. More waiting and no mortgage commitment.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Guest Bedroom Reveal!

I have a long to do list for my home. The problem is trying to priorities that to do list. Every item in my home was purchase, from the farmhouse chandeliers in the upstairs bedrooms to the doorknobs. All the door knobs. Furnishing a new home is quite expensive. Even though I am giddy and excited to get this home completely furniture and renovated, I have had to take a step back. I have had to just learn to live in a minimally furniture home.   I love it. I love the bare walls. I love the space.   I love the feel of not having clutter. On my last blog post, I showed some pictures of my kitchen and dining room, Today I want to share a few pictures from some of the other parts of the home. It's not perfect. I still need a dresser and a mirror but those will come in time.  In the meantime, this is what it looks like.
Post a Comment
Read more

I found another house

At the end of July, I thought that I had found my dream home. I made an offer. The seller countered. Then I accepted the seller’s counter offer.   I was already trying to schedule the home inspection when my realtor, Robert, texted me that the seller wanted to hold off. Well, according to Robert, the seller decided to sell the home to his neighbor’s friend. I was disappointed but then oddly felt relief. As much as I like the home and the area, I was a little worried that the location was a little too isolated. It was close to buses but far away from the train. I was concerned about how I would get to and from work. Robert would still make his commission as he was acting as both the buyer and seller’s agent. Everyone was happy except for me. I then called another former realtor, Louis, and we began looking at properties.   We went to an open house on a quiet street, a few blocks away from a subway station and a block from a bus, that was listed below market value. There w...
Post a Comment
Read more

House Renovations

Despite closing on my home last month, I haven't yet moved in. When I first made an offer on the house, I did not think that I would begin renovations immediately. I knew the house needed some updates.  But I could live with an outdated, functional kitchen for a while. once the sellers vacated the property, I was finally able to assess the property without their furniture blocking and cover any damages.  I hired a painter who was also a licensed contractor who noticed that all the walls in the house were bulging. The second bedroom where the children slept had a leak which caused the baseboard to rot and the wall to swell. The house was inspected twice and at no time did the inspector report rotting baseboard and leaking in the walls. I was not happy. Would knowing all these things deter me from purchasing this house? probably not.  However, the last thing I expected to do so soon after spending almost ten years of savings on closing cost and a down payment, w...
Post a Comment
Read more