95 Things That Can Go Wrong Between Application and Closing

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  1. You have large tax deductions for non-reimbursed employee business expenses.
  2. A very large part of your income comes from cash tips and cannot be verified.
  3. Your buyer's pre-approval letter turned out to be worthless.
  4. Somewhere in all of those papers there was an "I" that was not dotted or a "T" that was not crossed.
  5. Someone forgot to schedule your closing.
  6. You thought those papers I requested could be returned to us whenever you got around to it.
  7. Your new home is located in a flood zone, but you don't want to pay for flood insurance.
  8. You thought I said they said something else.
  9. You didn't return my phone call.
  10. I didn't return your phone call.
  11. The underwriter told us everything was fine, then sent and approval letter with 101 conditions to be satisfied before closing.
  1. We cannot verify your child support income that is being paid in cash.
  2. The loan program you wanted was discontinued today.
  3. The well for your new home is contaminated.
  4. Your new home needs an entirely new septic field.
  5. You forgot to mention that you can't get out of your rental lease and you can't afford both house payments.
  6. The Private Mortgage Insurance company doesn't like your loan.
  7. We forgot to order your payoff statement on your current mortgage.
  8. The property you are purchasing is tied up in probate court.
  9. 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.
  10. You annual bonus turned out to be a thank you card and a gift certificate to WalMart.
  11. The home you are purchasing is the only one of its kind within 50 miles and we can't even verify marketability.
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