We received the purchase agreement on 8/15/ We received the appraisal back on 8/19/and there were repairs needed to be done on the home to meet USDA guidelines After some time, the seller finally agreed to make the repairs needed This took a few months Before the repairs were completed, the pipes burst in the home as the heat was not on and the house flooded on or about 11/18/ What followed was a complete remodel job was needed Once the remodel work was complete, we ordered a NEW appraisal that we paid $on behalf of the client as the old appraisal had expired That report was ordered on 1/29/ On 2/19/15, we received the appraisal report back from the appraiser and submitted it to the underwriter for review On 2/the file was shipped to rural development (RD) to be signed off on We received the file back from RD in early March and cleared it for closing on 3/11/ This was a tough one for all involved and I am just glad we finally got the [redacted] ’s into their homeJ
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below. First of all I know my credit was low going into the deal and only went forward on the guarantee that I would not have to put any money out of pocket until the loan was approved. The reply that was sent does depict some of the story but not all of it. It does not address all the delays on the company's end. It does not address the fact of when the contract was almost at the deadline emails and phone calls from my realtor, the sellers realtor, and myself were not replied. It was like it did not matter to them. It does not address the money that was put out. I understand that my credit score was a little low and that's why I was using a professional, so I thought, to handle this deal and make sure all went well one way or the other. I understand the denial do to not being able to pay some things off at the end of the process but there was nothing on my credit that was not already there in December and January according to the credit karma those accounts were already on my credit report as I was watching them through out this deal. The company seems to put all the fault of this bad transaction on myself when I responded to all their request and needs in a timely manner and they were the ones with delays that my realtor, the seller's realtor, and myself all experienced when trying to contact them.
Regards,
*** ***
We received the purchase agreement on 8/15/14. We received the appraisal back on 8/19/14 and
there were repairs needed to be done on the home to meet USDA guidelines.
After some time, the seller finally agreed to make the
repairs needed. This took a few months. Before...
the repairs were completed, the pipes
burst in the home as the heat was not on and the house flooded on or about
11/18/14. What followed was a complete remodel
job was needed. Once the remodel work
was complete, we ordered a NEW appraisal that we paid $500 on behalf of the
client as the old appraisal had expired.
That report was ordered on 1/29/15.
On 2/19/15, we received the appraisal report back from the appraiser and
submitted it to the underwriter for review.
On 2/23 the file was shipped to rural development (RD) to be signed off
on. We received the file back from RD in
early March and cleared it for closing on 3/11/15.
This was a tough one for all involved and I am just glad we
finally got the [redacted]’s into their home. J
Since the
initial pre-qualification letter was sent, [redacted]’s credit dropped a bit below
the required minimum’s for approval.
Credit is very temperamental and is as frustrating for us as it is for people
like [redacted]. The lowering of credit was
caused simply by the increase in revolving...
debt balances on a [redacted] account,
which makes sense since it was during the holidays.
We informed
[redacted] of this upon submission to underwriting and we told him that we would
pay for a rescore if he could pay the debt down. It took 20 days to receive the pay down
information and get the rescore started, which delayed the process a bit. However, we were able to obtain the scores
needed.
Additionally,
in February, 4 more non-medical collections were added to his credit profile which
once again dropped his score. We told
him that we would pay for another rescore again on his behalf (probably a $200
value) if he could pay those debts in full. He explained that paying those off was not
possible, so we had to deny the loan.
We received the purchase agreement on 8/15/ We received the appraisal back on 8/19/and there were repairs needed to be done on the home to meet USDA guidelines After some time, the seller finally agreed to make the repairs needed This took a few months Before the repairs were completed, the pipes burst in the home as the heat was not on and the house flooded on or about 11/18/ What followed was a complete remodel job was needed Once the remodel work was complete, we ordered a NEW appraisal that we paid $on behalf of the client as the old appraisal had expired That report was ordered on 1/29/ On 2/19/15, we received the appraisal report back from the appraiser and submitted it to the underwriter for review On 2/the file was shipped to rural development (RD) to be signed off on We received the file back from RD in early March and cleared it for closing on 3/11/ This was a tough one for all involved and I am just glad we finally got the [redacted] ’s into their homeJ
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below. First of all I know my credit was low going into the deal and only went forward on the guarantee that I would not have to put any money out of pocket until the loan was approved. The reply that was sent does depict some of the story but not all of it. It does not address all the delays on the company's end. It does not address the fact of when the contract was almost at the deadline emails and phone calls from my realtor, the sellers realtor, and myself were not replied. It was like it did not matter to them. It does not address the money that was put out. I understand that my credit score was a little low and that's why I was using a professional, so I thought, to handle this deal and make sure all went well one way or the other. I understand the denial do to not being able to pay some things off at the end of the process but there was nothing on my credit that was not already there in December and January according to the credit karma those accounts were already on my credit report as I was watching them through out this deal. The company seems to put all the fault of this bad transaction on myself when I responded to all their request and needs in a timely manner and they were the ones with delays that my realtor, the seller's realtor, and myself all experienced when trying to contact them.
Regards,
*** ***
We received the purchase agreement on 8/15/14. We received the appraisal back on 8/19/14 and
there were repairs needed to be done on the home to meet USDA guidelines.
After some time, the seller finally agreed to make the
repairs needed. This took a few months. Before...
the repairs were completed, the pipes
burst in the home as the heat was not on and the house flooded on or about
11/18/14. What followed was a complete remodel
job was needed. Once the remodel work
was complete, we ordered a NEW appraisal that we paid $500 on behalf of the
client as the old appraisal had expired.
That report was ordered on 1/29/15.
On 2/19/15, we received the appraisal report back from the appraiser and
submitted it to the underwriter for review.
On 2/23 the file was shipped to rural development (RD) to be signed off
on. We received the file back from RD in
early March and cleared it for closing on 3/11/15.
This was a tough one for all involved and I am just glad we
finally got the [redacted]’s into their home. J
Since the
initial pre-qualification letter was sent, [redacted]’s credit dropped a bit below
the required minimum’s for approval.
Credit is very temperamental and is as frustrating for us as it is for people
like [redacted]. The lowering of credit was
caused simply by the increase in revolving...
debt balances on a [redacted] account,
which makes sense since it was during the holidays.
We informed
[redacted] of this upon submission to underwriting and we told him that we would
pay for a rescore if he could pay the debt down. It took 20 days to receive the pay down
information and get the rescore started, which delayed the process a bit. However, we were able to obtain the scores
needed.
Additionally,
in February, 4 more non-medical collections were added to his credit profile which
once again dropped his score. We told
him that we would pay for another rescore again on his behalf (probably a $200
value) if he could pay those debts in full. He explained that paying those off was not
possible, so we had to deny the loan.