Finally!! My son's refi went through!
Tuesday, August 27, 2013
After 3 months of wrangling with the lender, we finally signed the papers last night. Had he had any idea that this lender was so stupid, he could have gone with Quicken Loans and done it last June. But they wanted to stick with their current lender, a reputable national loan originator. They may be honest but they sure are stupid. We all live in Virginia, but had to agree to a deed that isn't legal in Virginia. They had to sign a paper saying that if federal law doesn't apply, they agree to follow the laws of Texas. I doubt the folks at the county courthouse will be happy to allow a Texas deed to be recorded.
I drove down there yesterday afternoon (75 miles) for a planned 4:00 closing, which turned out to be 8:20. I got out at 9:30 and got home at 11. At least it's over for now. We'll get to the next chapter after the 3 day rescission period is over and they try to record the illegal deed. I tried to tell the lender a thousand times, but they wouldn't listen.
It is really scary how ignorant the people are who are dealing with the biggest financial transaction anyone will ever make. You'd think the professionals who are paid to know their business know less than a housewife grandma.