Settlement - Complete!

I can honestly say that I've never been part of such an odd closing before.  And I've been through a few of them.

As it turns out, there are very few construction loans in general. In this financial market, only about 50% of regular home loans ever make it to closing for one reason or another.  So, we are talking about a small percentage of a small percentage here, and it was pretty evident that nobody really knew how to do it.  There were 3-5 phone calls from the closing officer to the bank officer in the middle of settlement.

Money went from us to the bank to the title company and back to the bank.  It really was a clown show.

On the good side, Trident did the stand up thing and gave us a discount on the points that were placed in the loan. They did not have to do that... and it makes a big difference for us.

Contractor was happy, bank was happy, we were happy.

so, all in all, it was a successful plan.

And, now that we have the moolah locked down, we're pretty much locked on the exterior.

Here is the latest:

Closing... maybe. (Again)

So I've been completely remiss in posting. These past months have been infuriating.  With the curent banking system mess banks are acting like absolute A-Holes.

We have been re-re-re-scheduled for closing for tomorrow, Tuesday the 24th.  Who knows if they will keep this date.  So far, they have not even provided us the actual closing cost number.

I swear, I'm tempted to walk away from the bank at this point and go to someone else.  The only thing that is keeping me with them is the fact that I know I'll have to do this all again with someone else.

Closing - That's better

OK, after quite a bit of push back, and probably their realization that the costs are going to go up if they continue to push this like this... we're scheduled for the 19th.

Closing... in June... WHAT?!?

So I just got a call... the first available time is June 3rd for closing.

Are you fucking kidding me? This an absolute joke.  What the hell have they been doing for the past month?  Malvern Federal is not a fly-by-night bank... but they are acting like it.

For every day they delay, we get another possible cost increase. The bids on the sub-contractors will quickly come up for renewal if we don't start this.

The time to get serious is WAY behind us, people.