Loan Documents for our first house. A big "Thank you" to Mike Heggs and his crew at American Lending Group for their patience, hand-holding, and "endurance" throughout this entire process.
The day started out s-l-o-w, as we were late meeting our Realtor, Martha, for our final walk-through due to rubber-necking on a major Los Angeles Fwy. Apparently, a car burned to a crisp two hours earlier (fortunately, no one was hurt), but the shell remained- and people wanted to stare. In any case, we got to the house only to discover that the owners had turned off EVERYTHING except the water.
Waaaay to go, sellers :x Their lack of courtesy really "enabled" us to verify whether the dishwasher or doorbell was still functioning.
We got a letter in the mailbox from the incumbent poolman selling us his services. Pricey, though, at $80. Steve thinks once he has the hang of cleaning the pool himself, he can assume these responsibilities himself.
We had a 12:30 appointment at Escrow. and by the time we finished with the walk-through, it was 11;45. However, Escrow still had not faxed over the Hud-1 statement, thereby leaving us and ALG (our Lender) in limbo. Mike and Greg, our Loan Officer & Underwriter, respectively, kept us in the loop all morning and reassured us- as they and we awaited for the non-responsive Escrow company to email the preliminary HUD statement for their review.
By 1:30, Escrow and ALG finally got the figures straightened out; and Greg gave us the green light to proceed with the cashiers check for our Downpayment and Closing Costs. eeeks..... we forgot how much the closing costs can number. Thank Heavens for the sellers' $7,500 credit toward non-recurring costs! Thank goodness we had the "thick skin" to ask in the first place.
By the time we got to the Escrow office, it was 2:15. Our Escrow officer rushed us into a tiny conference room, where she basically instructed us to call Greg (underwriter) if we had any questions. She hurried back into her office to presumably scan the Web.
It wasn't long until I noticed an error in the documents... Debbie had not printed the most current loan documents. In fact, she and her boss had not opened any emails from our Lenders since the first- and outdated- set was sent.
Nice to know where our Escrow fees went!
In any case, after about three hours of mind-numbing reading and signing (signing away what seemed like our livelihoods), we finally finished. whewheeeew. We had celebratory, "just-ok" cupcakes at Susie Cakes (red velvet for me, chocolate mint for Steve), followed by dinner at The Commons. In between, we made a pitstop at Barnes & Noble for the obligatory Budget Design magazine and DIY Home Improvement book. Check back with us in the coming months to see whether we actually learned something from our purchases.
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