Not closing on time

[Peapod0609]

Hi @Tara585 the 18th is our tentative close date as well it looks like according to our CC, as I doubt we will get the CD before Tuesday the 12th. Being that we didn’t receive it yesterday and with it being the weekend and Monday being Veterans Day, I am not expecting anything until Tuesday morning at the earliest.

Keep in mind your loan estimates are just that, estimates. I noticed on every estimate I have received, the property taxes are always blank. So for some reason I am sure they haven’t figured those into our closing costs on the loan estimates.

Now I personally have calculated a few months of property taxes into our closing costs because I am sure that it will be required. So I am not going to be surprised when the disclosure is higher. I think our last estimate said we were getting back over $500 at closing but I can’t see that happening because the property tax escrow is blank.

[Tara585]

@Peapod0609, the CD I received was the intial CD and right now Im hoping the final CD would increase. Looking at the big picture Im Doing great with the amount due. So my closing if nothing changes will be on a Monday morning so Im expecting the final CD either Thursday or Friday. Im so excited for everyone!! I have so many things to do once I get my keys.

[mcm87]

What happens next after getting mortgage commitment letter on web-file ? Am i too far frm ctc ? Any help. Im on 5th xtention. A month away after initial closing day HELP

[Nelsont]

What is too far for you?

With no delays you might expect a week between the closing disclosure and the final closing disclosure which you will receive along with your clear to close. You will then receive a final clear to close either later that day or the next day. You will find out your official day of settlement when you get your final closing disclosure and initial clear to close. It is pretty common to close the next day or a couple days after.

Once you get your final clear to close you will be given the exact amount to bring to closing. Your title company will reach out to you either the day before or morning of possibly and confirm the exact amount and provide instructions on how to pay whether by certified check or wire transfer.

It’s worth noting that at this point you will get this house so don’t worry.

• This reply was modified 2 years, 7 months ago by Nelsont.

[notoriousfox2k3]

I initially had a clear to close 3 months ago but was delayed because the seller lacked certain documents. The issue was cleared up in late October, after which new lender conditions appeared on the same day. I submitted all the documents they requested immediately yet till no CTC, only additional lender conditions. Interestingly, there were no lender conditions the first time I was cleared and the only thing that has changed in my life is that my lease expired so I had to move in with relatives. Still saving my shock payments too. Now the seller is threatening to walk. My most recent web-file status says ACA send to UW the file is awaiting Bank of America’s underwriter review. I don’t know what to do. How long will it take to get a CTC?

[leolish]

@mcm87 – It took about 3.5 weeks for me from when I got the commitment letter until we got the final ctc. But I think it really depends on your mc, the bank, how backed up things are, your specific conditions, etc.

@notoriousfox2k3 – I put a long reply on this same thread a few days ago that detailed what I did when our sellers also threatened to walk. You can try that and see if it helps.

[Peapod0609]

@Tara585 does your initial CD show up in your web file or is it emailed to you? I was wondering how I was going to see that pop up. Hopefully you get your final disclosure soon, hoping to get my initial CD tomorrow.

[Tara585]

@Peapod0609, I got my intial CD in my webfile on Friday. Today I got an email from my closing coordinator regarding possibly moving my cloing from Monday to this coming Friday. Im not sure if I can get the time off since I actually was given the day off on Monday. I also have to give a wet signature on it and return to the CC. I dont have access to a computer or scanner since all that stuff has been placed in storage. Am news on your closing? Have they given a confirmed closing date and time.

[Peapod0609]

@Tara585 ahhh I see. Well I keep checking my webfile and my email just in case. Although today is Veteran’s Day and both NACA and the bank are closed to my knowledge so I was not expecting any movement today. Still waiting on the closing disclosure, I hope we get it tomorrow so we can iron out the closing time!

I would always advise closing early if you can, but if you can’t get the time off, then oh well. My wife has a similar issue with her job, luckily mine is extremely flexible.

[Peapod0609]

Update, got the initial CD today emailed to me by our CC. We signed and returned it and were told that our earliest closing date is this Friday, 11/15. So we are gonna push for that, trying to get everyone to confirm!

[2BLESSED]

@PEAPOD0609 you are about the have those keys in your hot hands! Congratulations!

[Tara585]

@Peapod0609, I signed and emailed back my initial CD today also!! And like you earliest closing date is the 15th. CC said all parties has to confirm date also. Its getting super exciting!!

[2BLESSED]

Soooo excited for you!

[Peapod0609]

@Tara585, yes, super exciting indeed! I am trying to confirm with all parties that Friday at 11:00 works, so far looks like this might be the time.

The initial CD was certainly different from my loan estimate as well. It has 6 months of property taxes in there, I only figured for like 2, oops! Luckily, we have the funds so it is not the end of the world. Just want this to be over, we’ve been in the program since the end of January. It’s been a long year, lol.

[Tara585]

@Peapod0609, Im supposed to find out if all parties can confirm for Friday but Im like…who is all parties? The CC said she was sending the signed CD back to the bank for review. So now I am wondering what to do now.

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