Gather ’round children. I have a scary story for you
👻 about using online lenders! 🤡
This is about a woman who wanted to sell her house 🏡 (my sister 👯♀️, who does not live in WA State). Her house (also not in WA State) got a great offer as soon as it went on the market 🎉!
The loan process seemed to be going fine, then the day AFTER everyone signed their closing papers – after the loan had been fully approved and all parties were expecting to close – the lender notified the selling agent that an internal audit needed to be done!
This was going to cause a closing delay of an undetermined length of time ⏳.
Buyer was ready to moved.
Seller had already moved.
Utilities were turned off.
Existing home owner’s insurance policy was about to expire and would need to be renewed by the seller if closing didn’t happen soon.
…..And lender went silent.
Nooooo communication 😲🤐.
No return phone calls or emails 📞💻
No one knew what was happening or why.
This scary story does have a happy ending, because a week later the loan finally closed 🎊.
But this story also has a moral, which is this:
Working with a trusted, local lender means there will be someone involved in your transaction who truly cares and is readily available 💁♀️(me), and it also means if there are problems that come up during the loan process there will be someone there that you can talk to face to face to get it resolved 🗣👂.
But First, Get Pre-Approved 