Forum Replies Created
From what I was told. They will request a “subject to” appraisal after they complete the scope of work/budget.
I think if the budget puts you over that subject to appraisal, it’ll have to be adjusted. I just need the budget so I can go ahead and do a change of circumstance. I will have to wait for the appraisal before my closing documents are prepared. Unfortunately, the appraisals have been taking 2 weeks.
Sounds like what happening to me. I spent a week trying to contact my RS only to find out that he no longer worked there. I essentially lost a week emailing him in vain. The HAND manager has my file and promised that he will finalize my scope of work/rehab budget by Friday and I didn’t hear from him.
I emailed today and got an away message. Luckily, my in house agent is trying to get in contact with someone to get my file cleared.
The mortgage side has gone so smoothly. I have an easy file, I just can’t get through HAND and it’s frustrating me. I need to submit rehab budget and do a change of circumstance before my MC goes back to another round of ATD and I have to wait a whole nother week(They are only reachable Tuesday and Wednesdays).
I’ll continue to be a polite pest. I’ll email and call every single day if necessary.
Before this pandemic, I resubmitted for higher amount and it was approved within an hour. But with the ATD events and this pandemic, the UW may not ba as responsive.
Your earnest money deposit will be applied to your pre paid (taxes, interests and insurance) and any buydown at closing.
I find it incredibly frustrating that for the next 4 weeks, it will be increasingly difficult to reach my MC right in the middle of the Mortgage Process.
I have no doubt ATD is life changing for many individuals, but what about those already under contract.
Turns out that my RS left NACA.
However, I was able to connect with someone who was incredibly helpful! He gave me some very important information. He scheduled a follow up and will work to get my file out by Friday (I need my contractor to update my estimate first).
I’ve called and left VM and followed up via email since Wednesday of last week.
I’ll try and see if I can connect with another RS.
Yea. My MC wanted me to hurry up and get the bank app in before I got my rehab budget. I’ll just have to submit a change of circumstances later. I’m glad she did it that way because HAND is my current hold up right now.May 15, 2020 at 7:50 pm in reply to: Virtual ATD Event putting everyone else’s file on hold? #68060
Ah OK. We didn’t ask for sellers contributions.May 15, 2020 at 7:06 pm in reply to: Virtual ATD Event putting everyone else’s file on hold? #68058
Can you print it off your webfile? I had to do that when I was making an offer over the weekend.
My bank application was submitted last Friday (5/8).
I received my appraisal this past Monday and a notification on my credit report that an inquiry was made by a mortgage lender (5/11)
My status changed to Lender Approved with Conditions on 5/12.
Conditions addressed and submitted on 5/13.
My current hold up is HAND. My RS has not gotten back to me regarding my rehab scope of work.May 14, 2020 at 12:07 pm in reply to: Virtual ATD Event putting everyone else’s file on hold? #67982
This a bit unfair to those already under contract considering there is 3 weekends back to back of virtual ATD events.
@azallin I hope everything works out for you relatively soon and you get your keys.May 14, 2020 at 11:33 am in reply to: Virtual ATD Event putting everyone else’s file on hold? #67977
Perhaps, they don’t know you are at bank application stage and are assuming you are submitting conditions for NACA qualification instead.May 14, 2020 at 11:21 am in reply to: Virtual ATD Event putting everyone else’s file on hold? #67976
It doesn’t make sense that they would place people who are under contract/at bank application on hold for people who are not even qualified.
My MC always told me you become priority once you have a contract in. She’s been great at trying to get my bank app in ASAP because she knows BOA can be the hold up in this process.
Hopefully @TTrumble can provide you with some answers.May 14, 2020 at 11:06 am in reply to: Virtual ATD Event putting everyone else’s file on hold? #67973
What stage are you in?
I was credit access approved at the top of last week and submitted my bank application by the end of last week. There has been movement on my file. I went from Lender- Pre decision /document prep on Monday to Lender -Approved with Outstanding Conditions on Wednesday.