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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.
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Member Comments About This Blog Post
    The fact that you are dealing with a bank, who you expect to employee fairly intelligent people, has things happening each and every day that leads you to believe the employees there are no smarter than the ones who sling hamburgers for a living.

    But like they say, you can't fix stupid!
    1148 days ago
    Finally, Nell! Who has to record the deed? The lender? Wish I could be a fly on the wall for that one!
    1149 days ago
    Is the lender affiliated with Bank of America in some way? Cause it sure sounds like BoA. emoticon At least now you can get some rest.
    1152 days ago
    Glad you got it done Nell, I know this has been a pain in
    the patoot....

    Sometimes, doll, you just can't fix STUPID....


    S: If we had it to do over, we would never have bought
    a house...
    1152 days ago
  • GABY1948
    I am so glad that it finally went through...but I agree with you...but it is people in general that are so ignorant! It is unbelievable and I am so glad that I am not any younger than I am!
    1152 days ago
  • JEANNE229
    Makes one take pause....But so glad it is finished (until someone asks why it is in Texas!)
    1153 days ago
    It has been one long battle for you and your son. I'm sorry for that, but I'm so glad it is finally final Have some peaceful days now.
    1153 days ago
    I'm sorry you and your son are going through all this paperwork. It is ironic how little people that are suppose to be experts really know. We could easily get a job in some of these places.
    Try to take a nap. emoticon
    1153 days ago
    You aren't an average housewife grandma, Nell....

    1153 days ago
    cant understand the law in US
    1153 days ago
    Their stupidity did work to my advantage once. When my ex was finally forced to sell the home he was living in and split the proceeds with me, I discovered that $100K in equity loans were never recorded as liens on the property, and thus didn't have to be paid off with the sale. The house, which he had trashed, is now torn down and nonexistent, but I'm still paying down one of those loans.
    1153 days ago
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