Trying to stay positive but it’s hard

[Nelsont]

@tricey718 each member’s situation is unique and when trying to figure out priority expecially in escallation the bank will go by contract date of close in order to prioritize. It is very possible your file takes 3 days while someone else’s with the same timeline up to this point takes 2 weeks or vice versa.

@tsnipes73 are you referring to intake to closing? Or just from contract to closing? There are so many factors involved that it can take 6 months or less or up to 2 years. From waiting 2 months before your intake to needing to meet timelines which makes qualification take 6 months to not being able to find a house you like for 6 months or the other extreme getting an intake right away to being qualified within weeks to finding a house immediately. Realistically I would plan about 4 months from the time you are qualified to the time you close with 2 to 3 of those months being under contract. I would also plan 3 to 4 months from your first workshop to qualification. But again it depends on how ready and motivated you are.

For me I went to a workshop in December, had my intake at the end of January, was qualified in March, found a house at the end of May, closed in July.

• This reply was modified 2 years, 8 months ago by Nelsont.

[tricey718]

@cstar89 Too late. I already have the closing crazies. I was trying to see how behind they are. But youre right BOA has their own timeline and its hard to gauge. My application was with the Bank for three weeks before I even received conditions so I know every file is different.

[tsnipes73]

Nelsont..thanks for the information. I have already been through the intake process and figured out that I needed more time to get my stuff together. Now I’m finally ready to proceed. I’m going to set up another meeting with my counselor in early 2020. Any advice?

[Nelsont]

Keep doing what you’re doing. Save as much as you can with the minimum being your payment shock until the day you close. Don’t get discouraged. Buying a house is not easy and if it were then there would not be programs like NACA to help us out. Pay attention to what your MC says. Read the workbook. Ask questions. That would be my advice. Good luck!

[tsnipes73]

Thanks

[cstar89]

@tricey718

The funny thing is from another post I think you and I did bank app the same day. I was moving along and you were held up….now we are both stuck.

I had conditions 11/22 and you just got them if I’m remembering correctly…either way we are in the same boat.

What’s your tentative close date? Did you receive your CD?

[tricey718]

@cstar89 12/16 is my close date. Im trying to reacher my realtor now so he can ask for an extension. Yeah I didnt get my conditions until 12/3

[tricey718]

No CD yet

[cstar89]

@tricey718 it’ll happen I’m believing we will have keys in hand for Christmas!!! I get excited every time someone announces they got their CTC, it means we are 1 closer lol

[Liubov1989]

@tricey718 and @cstar89 I am with you, guys, I submitted the bank app on 11/15, just like you. All my conditions have been cleared on Saturday 12/7/2019 and the Mortgage department representative told me that I need to wait 72 hours to get my status changed – which is due today (not counting Sunday). But I still have “Approved with outstanding conditions” status.

What is your status now? I want to get my keys and celebrate Christmas in new home!!!!!!!

[tricey718]

I just spoke with my agent and he said my MC escalated my file again. No change as of yet. *fingers crossed* for us all

[Liubov1989]

@tricey718 and @cstar89 I am with you, guys, I submitted the bank app on 11/15, just like you. All my conditions have been cleared on Saturday 12/7/2019 and the Mortgage department representative told me that I need to wait 72 hours to get my status changed – which is due today (not counting Sunday). But I still have “Approved with outstanding conditions” status.

What is your status now? I want to get my keys and celebrate Christmas in new home!!!!!!!

[cstar89]

@tricey718 yup my MC escalated my file for the second time yesterday…still no update when I sign in…. still praying

[cstar89]

@liubov1989 I received conditions 11/22 and they were addressed and cleared 11/26, my status is the same as yours and has not changed

File has been escalated 2x….sellers agreed to an extension but its only 10 days

Christmas in your new home is possible….I’m struggling with it being realistic at this point

[anxiouslywaiting19]

@ctar89
@tricey89

@liubov1989

I signed my bank app on 11/8. I was scheduled to close on 12/9. On 12/3 i received my CD and closing was scheduled for 12/10. All my conditions were cleared on 12/5. I called on 12/9/19 and was told that my status should change on 12/10 and I’d probably be closing sometime next week. On 12/10, I received the clear to close and I’m closing tomorrow.

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