Just a very quick, very brief update:
Today we received clearance to close on our home loan, and the closing has been scheduled for MONDAY. Just five days away from becoming homeowners, and in less than one month after first contacting Quicken Loans. They worked so much faster than Union Savings Bank, whom I have become convinced was just trying to stall us.
More info on the closing and our new home-ownership soon.
Just a quick update on the home mortgage.
After returning home from vacation and contacting several new lenders, starting over with the home mortgage process completely, things are progressing quite nicely. Our appraisal came in today perfectly in line with the purchase price of our home -- that was one of our biggest concerns. We've been approved and have an anticipated closing date of October 5.
It's a good feeling to be this close to finally owning our own home.
The experience with Quicken Loans has been rather pleasant so far. They work fast, seem to be quite thorough, and everything has gone amazingly smoothly (knock on wood).
Stay tuned for future updates.
In June, I contacted the same banker that I spoke with initially last December. It was two months before our Bankruptcy was due to mature to two years, but he had indicated that we might be able to be prepared for a closing date that would coincide with the maturity date if we started in June.
It has become obvious over the past three months that he was stalling, as he continually sprung upon me hurdler after hurdle that dragged the process out. It was just before our recent family vacation that I decided to drop the process and resume after our vacation with a different lender.
Since returning from vacation, I contacted three lenders, including Chase, Fifth Third, the Lending Tree, and Quicken Loans.
The Lending Tree was no help. The representative from Chase Bank that contacted me was rude and pushy, insisting that I tell him what other lenders were trying to do for me so that he could show me how he could serve me better. He refused to present me with a Good Faith Estimate so that I could make the comparison on my own.
Fifth Third Bank, where we bank (though they didn't know that) contacted me only by email.
Quicken Loans was the fastest to respond, the most eager to serve me, and the most professional I have dealt with of the four. I am happy to say that our loan is currently being reviewed by an Underwriter, and we hope to have a closing date the first week of October.
That bank that I was working with originally? Union Savings Bank. We're back at square one now, but things look more promising than ever.
