95 Things That Can Go Wrong Between Application and Closing
- You have large tax deductions for non-reimbursed employee business expenses.
- A very large part of your income comes from cash tips and cannot be verified.
- Your buyer's pre-approval letter turned out to be worthless.
- Somewhere in all of those papers there was an "I" that was not dotted or a "T" that was not crossed.
- Someone forgot to schedule your closing.
- You thought those papers I requested could be returned to us whenever you got around to it.
- Your new home is located in a flood zone, but you don't want to pay for flood insurance.
- You thought I said they said something else.
- You didn't return my phone call.
- I didn't return your phone call.
- The underwriter told us everything was fine, then sent and approval letter with 101 conditions to be satisfied before closing.
- We cannot verify your child support income that is being paid in cash.
- The loan program you wanted was discontinued today.
- The well for your new home is contaminated.
- Your new home needs an entirely new septic field.
- You forgot to mention that you can't get out of your rental lease and you can't afford both house payments.
- The Private Mortgage Insurance company doesn't like your loan.
- We forgot to order your payoff statement on your current mortgage.
- The property you are purchasing is tied up in probate court.
- I ask for your tax returns and they show you own 2 companies that have major losses that you forgot to tell me about and now you don't qualify for any mortgage amount.
- You annual bonus turned out to be a thank you card and a gift certificate to WalMart.
- The home you are purchasing is the only one of its kind within 50 miles and we can't even verify marketability.