Home buying thread
- Thread starter Pasteton
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Siliconemelons
Naxxramas 1.0 Raider
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Yeah I was watching some American pickers and they were on this land in Hollywood that some old hippy owned and it was on the side of the mountain with a view that was insane- this dude sitting on millions in land lol - should sell it and go start his own hippy commune
Khane
Got something right about marriage
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So I got a call this morning from some Rushmore Loan Management company that was very vague about a loan they were servicing for me and to please call back. I was immediately skeptical that this was some kind of scam but wanted to call to make sure it wasn't something worse, like identity theft. After a little back and forth the guy on the phone was saying they probably bought an outstanding loan from another servicer and that if I gave him all that information and my social he could look it up. I promptly called him a scammer and told him to go fuck himself then hung up.
Turns out my mortgage company actually did sell my mortgage to Rushmore Loan Management and just never sent me any correspondance to that effect. Poor guy getting berated and belittled by an angry Khane. Woops.
How fucking annoying this is though. Now I have to set up ACH payments and give them all this other info all over again.
Turns out my mortgage company actually did sell my mortgage to Rushmore Loan Management and just never sent me any correspondance to that effect. Poor guy getting berated and belittled by an angry Khane. Woops.
How fucking annoying this is though. Now I have to set up ACH payments and give them all this other info all over again.
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A5150Ylee
Ahn'Qiraj Raider
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That's still the correct answer. I receive more scam calls than real calls these days. Just yesterday the IRS was coming to arrest me if I didn't pay my balance in iTune gift cards - AGAIN!
Cad
scientia potentia est
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I'd call the originating bank or whoever did your loan and have them check who owns the servicing for your loan now. Who owns the underlying note is irrelevant, what matters is who the servicer is, they collect the money from you and will foreclose etc and do all the important things.
Your bank or broker (who should answer you given that they got your business) can look in MERS and figure out who the current servicer/holder of your note is.
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Lanx
<Prior Amod>
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A5150Ylee
Ahn'Qiraj Raider
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That's on them man, If they did a better job communicating with their new customers, then it wouldn't have happened.
Cad
scientia potentia est
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I think generally if people call you asking for your personal information, swearing at them is the proper course of action.
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Off topic but my sister's credit card info was stolen and the bank noticed some fraudulent charges. They had an automated voice leave a voicemail asking to call back this # with all her information to verify.
That is textbook credit card scamming 101. F that bank.
That is textbook credit card scamming 101. F that bank.
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Vinen
God is dead
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Moved into my "new" house. Contractors all lined up.
For now I will just continue hiding in the Movie Theater. Nice quiet location when we arn't watching TV or Playing Games. Plenty of room for my son to crawl around as well...
Just glad this process is over. Fucking hate buying houses. Now onto the process of selling the old house Will be on the market in a few weeks.
- Rebuilding Garage in spring
- Replacing all Windows on 2nd floor
- Repainting second floor (+ Fixing cracks in Drywall older then our Great Grandparents). Will be redoing all the drywall at some point down the road but it will be stupid expensive to get it looking like it does not. Rounded corners and shit.
- Fixing a few gutters
- Fixing minor rott on front and back porch
- Ceiling mounted heaters on the rear porch (Something like this although I'd prefer gas as we have external gas pipes running to our generator already. 61-1/4" 6000 Watt Infratech Dual Heater | WoodlandDirect.com: Patio Heaters)
For now I will just continue hiding in the Movie Theater. Nice quiet location when we arn't watching TV or Playing Games. Plenty of room for my son to crawl around as well...
Just glad this process is over. Fucking hate buying houses. Now onto the process of selling the old house
Will be on the market in a few weeks.
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Springbok
Karen
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So I bought me a new house, and am in process of selling old house. Couple of questions/thoughts - I close on new house Dec 20th, thankfully new house is really close to existing residence. Put my current house on market day after Thanksgiving, and have had a decent amount of traffic since (maybe holiday rush?!). Had an offer submitted to us last night. Full asking, VA Loan but they want $8300 cash to close. This tells me a few things - a), they got no money - b), the VA, from my understanding is super stringent about their appraisals and I'm concerned my home won't appraise at my asking price. If it doesn't appraise at the full price, I assume the VA will only finance up to appraised amount.
So the question is this, do I roll the dice on the riff-raff or just flat reject it and not fuck with it? I'm not desperate to sell, but would like to get the deal done sooner rather than later. I guess I could always just keep our existing house and rent it out since it's so close to new place. Also, they want to close on Dec 22nd..... 2 days after my closing leaving us with a really narrow moving window.
Thoughts?
So the question is this, do I roll the dice on the riff-raff or just flat reject it and not fuck with it? I'm not desperate to sell, but would like to get the deal done sooner rather than later. I guess I could always just keep our existing house and rent it out since it's so close to new place. Also, they want to close on Dec 22nd..... 2 days after my closing leaving us with a really narrow moving window.
Thoughts?
Khane
Got something right about marriage
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I'd be surprised if they had their own, separate appraisers that other banks don't have access to so I don't think the appraisal issue would go away with any other buyer using a traditional mortgage lender. And any bank will likely reject financing for more than appraisal value.
Buyers asking for closing costs has become the norm in this day and age. It's just something you should probably expect from any buyer coming to the table. VA loan or not.
I would be more concerned with the VA's "non-allowable fees" which usually get passed on to the seller than the issues you listed above. I think that's really the only sticking point with a VA loan. Which also isn't really that big a deal in my opinion because it would only amount to a few thousand dollars at most.
Buyers asking for closing costs has become the norm in this day and age. It's just something you should probably expect from any buyer coming to the table. VA loan or not.
I would be more concerned with the VA's "non-allowable fees" which usually get passed on to the seller than the issues you listed above. I think that's really the only sticking point with a VA loan. Which also isn't really that big a deal in my opinion because it would only amount to a few thousand dollars at most.
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What is the earnest money they have on the contract? That should give you an indication on how much is them asking for the moon because they need it and how much is just typical like Khane said. If you're really not super desperate I would counter with 2.5 k or 3k, depending on your profits after closing costs and agent fees.
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Frenzied Wombat
Potato del Grande
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I'm curious, any of you ever have a pleasurable, non-nightmarish experience with a contractor? I just can't seem to find one that doesn't drive me to the brink of murder.
Springbok
Karen
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Ya they're bringing $1k earnest money so there is that.... I'll probably counter with $3k and hope to land at $5k. Would be great to get both closings done before end of year
Khane
Got something right about marriage
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Yes, but he was someone I knew and trusted (though not actually a friend, more of an acquaintance). All the contractors I've had to hire with no previous working relationship have all been shitheads.
Most contractors are, in my estimation, the type of people who will never grow out of the "I just want to work for beer money" phase of their lives. They work when they need it then neglect work for as long as they can then rob Peter to pay Paul when it comes time to finish a project.
I think the best course of action is to try to hire someone you know subcontracts the work but cares about reputation. It's easier for someone who has the power to say "I'll never give you another job and make sure everyone I know doesn't either" to get results than it is for someone like you and me to threaten withholding payment for something they haven't even done anyway. That's just a working theory though.
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1k is the VA minimum. I had a VA laon offer like that. Guy apparently was dishonorably discharged and the deal fell through.
Asshat Brando
Potato del Grande
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Just make sure you're not paying any points to the lender out of whatever amount you credit them. VA loans just like FHA loans are insanely profitable for servicing value alone compared to Fannie/Freddie loans. Like 3 or 4x more at minimum, I've seen it as high as 7x depending on what the rate is at. The lender makes bank on these loans so if you're contributing more to it then that would be bullshit. You're probably right that the buyer has no money, that's VA though in that you don't need any money aside from whatever the closing costs are assuming the purchase price is $424,500 or less.
VA loan appraisals are ordered through the VA, not the bank or lender. I've never seen a value issue in the last 3-4 years as anything that would create a value issue is probably beyond the means of a VA buyer anyway. Where they are a stickler is building code and if everything is permitted. Biggest stickler on houses 30+ years old they assume it's lead based paint so it you can't have any cracked or peeling paint on the house and then everything being permitted. They're supposed to not be such a stickler on broken stuff that is non-safety/health related such as shower rods and shit but if you get an asshole then you never know.
Anyway, VA loans are great loans and lenders bend over backwards to close them. I wouldn't be concerned just because it's a VA loan.
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