Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago on . Most recent reply

User Stats

11
Posts
0
Votes
Mary Dodd
  • Real Estate Investor
  • Seattle, WA
0
Votes |
11
Posts

Help mid deal. Wondering if I went with the wrong lender?

Mary Dodd
  • Real Estate Investor
  • Seattle, WA
Posted

 am just a bit distressed. We are in the middle of a purchase and are getting run around by the lender. I wouldn't say that except we have jumped through hoops since 7/15 and are just now being told that they can't submit my paperwork until 8/28. The seller is annoyed and wanting me to release the earnest money nonrefundable now. We have had the inspections etc but are uncomfortable with that, what if the appraisal doesn't add up?

As for funding... I was pre-approved. What we have been having difficulty with:

A deed in lieu which is 2 years old

I have done pre-purchase counsling for the loan and just today am told we had to wait 30 days from the class before the paperwork could even be submitted.

Any questions or recommendations? I am wondering if we picked a bad lender?

Most Popular Reply

User Stats

23,418
Posts
13,509
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

It wasn't a very thorough preapproval if something like this was missed.

Loading replies...