|"It all about the details..."|
I just encountered one of them “devil” moments this week. Like when the mortgage broker sends me an email that says “XXXXX St. is a town house?” My response, "yes, we spoke about it when I sent you the buyer’s contract."
Apparently the lender he was sending my buyers through only does financing on second homes with 30% down. As my buyers were planning on 20% it was now one of those devil is always in the details moments.
Now the mortgage guy will be re-processing through another lender while I do an extension for a few weeks and hope the lender will wait. After waiting four months on short sale approval I would hope the lender would accept a slight delay.
Now, just thinking to myself now….do mortgage brokers and loan officers look at tax records or verify the type of structure when they start a loan transaction?