Home Loan - MIA

As you guys can tell from the title of the Blog Post. The Loan Documents are still Missing In Action!! No surprise here. I would have been shocked me if BofA had managed to get the loan documents together today as promised. Meanwhile it has been 70+ days and they still haven't gotten their act together, which doesn’t really surprise me.

Our Realtor got involved today, she first called our so called Loan Specialist and of course she didn’t get a hold of her, so she left a message and was expected she didn’t call back. She then called the woman she had talked to on Friday, who was very helpful but didn't know much about our loan. , she managed to get the phone number of the supervisor of our loan specialist. Of course she didn't not answer but Mary our Realtor left a message and said she wasn't mean but clear that we were upset and the slowness of their process. Maybe a half hour later Cindy, our so called Loan Specialist, started answering our emails that we have be sending to her for the past several weeks.

Suddenly all the documents we had all sent in were now approved. The only thing that came back as pending was the Private Road Maintenance Agreement. Mary than emailed them the CA Law for a second time, that in essence states, that certain easements exists. These easements are a irrevocable part of the title and supersede and Private Agreements. That’s what Harry's has been saying from the beginning, as a private agreement is not the way things are being done in rural/agricultural areas and on the other hand such private agreements are not even worth the cost of the paper they are printed on. The Loan Specialist then forwarded that to the Underwriter and we got the info back that this was good enough. So it looked like everyone was done and we were on our way to home ownership... well not quite.

Later we got another email from our Loan Specialist telling us that the Underwriter wanted proof from where the funds of the down payment are coming. We had done a gift letter stating that the money came from Harry's bank account and that it was a gift and I was not expected to pay it back. Normally this is good enough but for some reason BofA wanted Harry's bank statement showing the amount being transferred. We of course can't get Harry's bank statement since he hasn't been back to Austria for over five years. We did find out that the Underwriter wanted to see Harry's name with the amount of the gift. So I printed out the "wire" transfer info which had Harry's name and gift amount. I was hoping this would suffice. This is the last thing we need to deal with before closing on the house which is suppose to happen in two days. Now we wait and see if they will accept this. If it's not one thing it's another.. just wish this would all be over.