Soooo… Our offer on a 100k house was accepted in the middle of September. Our original closing date was 11/20. The seller required a 203k rehab loan which is what we are in the process of closing. We are on our SEVENTH extension of our contract with the seller due to several issues with the mortgage. As it stands now, if we don't close by next Friday I am very sure the seller will consider the deal to be dead.
I'm going to list sine of the issues we've had with the mortgage:
1- Loan officer "forgot" we were using a cosigner (whom she had personally spoken with several times, ran a credit check and pre qualified him etc) so we had to re-write and resign our contract with the seller a couple of days after it was across.
2- LO orders appraisal a week late couldn't manage to get the report until almost TWO WEEKS later after it had occurred. (Causing first extension)
3- Waits until we're into our extension to ask for divorce documents for cosigner which were supposed to take 6 weeks to arrive from the state, no expediting service and no way to get them from the warehouse they were stored in.
4- we send her many forms of proof he did not owe alimony to remarried ex and child support to kids in their 30s, including two notarized affidavits and documents from state child support agency. Nothing was good enough.
5- She tells us to lie to the FHA and have cosigner sign a letter saying he was never married after we already submitted tons of divorce paperwork. (We did not do this)
6- In the eleventh hour of the 5th extension the necessary document was sent to us so we could proceed without an exception from HUD she tried to get.
7- She threatened our 203k contractor that he would cause us to lose the house if he doesn't send her paperwork within an hour, which it turns out he and I both sent her a month before and she had it in the wrong file.
8- Basically every item was requested at the last possible minute even though we've gotten all paperwork back to her in less than 24 hours.
9- The extension we had to BEG for today was the result of her not communicating for 4 days only to find out on Friday, today that the seller was refusing to sign a form. She effectually worked to get the condition cleared because they are exempt from such forms… But WHY was this done TODAY a month after our original closing date??
There have been many other minor lies and errors throughout this whole process. It is a very real possibility they will come up with some reason to kill the deal this week, and I'm trying to get insight on whether we can get any of our money back, or if we will just be shit out of luck for choosing a crappy mortgage company.