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Art Oswald
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Posted via email from Title Insurance A transaction that was cruising along just so well, almost too good to be true, and then right at the last minute while waiting for the clear to close, an underwriter decided to do some muscle flexing. Ideal clients, with the house going under contract on Mar 21 and we closed on April 14. A 2300 sq ft Colonial sold for $296,000. The buyers have their home under contract and were well enough positioned to be able to close on their new house before their current home got sold. The Inspection showed some minor problems, but not at all unexpected for a foreclosure, especially when the the previous owners were forced into foreclosure because of a spouse dying. Posted via web from Title Insurance Mortgage lender requirements are confusing brokers, buyers, and even the lenders who are giving the loans. The new world of mortgage financing requires very strict qualifications for the buyers, and brokers and lenders are having trouble keeping track of the rules. It’s very hard to get mortgage financing right now, and some mortgage financing deals are falling through at the last minute because the lenders and brokers don’t know what will make the buyer fail to fulfill the mortgage lender requirements. The result of these loan requirements is closing problems and a dry closing. Posted via web from Title Insurance
Continuing Ed for Title Agents
The Closing took Place, But Not Without Some Anxious Moments
Continuing Ed for Title Agents
Mortgage Lenders: Mortgage Lender Requirements Result in Closing Problems And A Dry Closing | ThinkGlink
Continuing Ed for Title Agents
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