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ArkieDukie wrote:This has been a day. Okay, remember that closing for my condo is in 2 days? Well, maybe now "was" in 2 days. When I arrived at the final walk-through this afternoon, my realtor was on the phone with my loan officer. Bank of America rejected my mortgage application today because the condo association doesn't have enough money in reserve to pay for major repairs. Not because of my finances, but because of the condo association. Now, when did B of A ask for the condo association budget? They asked for (and received) a copy of the condo association budget this morning. The loan documents were already at the title company for closing. I received a letter several weeks ago with final approval for my loan. How the frak can they do this at the last minute? When did "approved with all contingencies removed" stop meaning approved with all contingencies removed? The loan officer says that he's appealing the decision, but I'm going on the assumption now that it's not going to happen. So, I'm likely out my earnest money plus my loan application fee. And, yes, I am going to move all of my accounts from B of A. Bunch of losers.

ArkieDukie wrote:This has been a day. Okay, remember that closing for my condo is in 2 days? Well, maybe now "was" in 2 days. When I arrived at the final walk-through this afternoon, my realtor was on the phone with my loan officer. Bank of America rejected my mortgage application today because the condo association doesn't have enough money in reserve to pay for major repairs. Not because of my finances, but because of the condo association. Now, when did B of A ask for the condo association budget? They asked for (and received) a copy of the condo association budget this morning. The loan documents were already at the title company for closing. I received a letter several weeks ago with final approval for my loan. How the frak can they do this at the last minute? When did "approved with all contingencies removed" stop meaning approved with all contingencies removed? The loan officer says that he's appealing the decision, but I'm going on the assumption now that it's not going to happen. So, I'm likely out my earnest money plus my loan application fee. And, yes, I am going to move all of my accounts from B of A. Bunch of losers.

YmoBeThere wrote:

ArkieDukie wrote:This has been a day. Okay, remember that closing for my condo is in 2 days? Well, maybe now "was" in 2 days. When I arrived at the final walk-through this afternoon, my realtor was on the phone with my loan officer. Bank of America rejected my mortgage application today because the condo association doesn't have enough money in reserve to pay for major repairs. Not because of my finances, but because of the condo association. Now, when did B of A ask for the condo association budget? They asked for (and received) a copy of the condo association budget this morning. The loan documents were already at the title company for closing. I received a letter several weeks ago with final approval for my loan. How the frak can they do this at the last minute? When did "approved with all contingencies removed" stop meaning approved with all contingencies removed? The loan officer says that he's appealing the decision, but I'm going on the assumption now that it's not going to happen. So, I'm likely out my earnest money plus my loan application fee. And, yes, I am going to move all of my accounts from B of A. Bunch of losers.

Shouldn't the condo association have a master policy to handle this?

ArkieDukie wrote:

YmoBeThere wrote:

ArkieDukie wrote:This has been a day. Okay, remember that closing for my condo is in 2 days? Well, maybe now "was" in 2 days. When I arrived at the final walk-through this afternoon, my realtor was on the phone with my loan officer. Bank of America rejected my mortgage application today because the condo association doesn't have enough money in reserve to pay for major repairs. Not because of my finances, but because of the condo association. Now, when did B of A ask for the condo association budget? They asked for (and received) a copy of the condo association budget this morning. The loan documents were already at the title company for closing. I received a letter several weeks ago with final approval for my loan. How the frak can they do this at the last minute? When did "approved with all contingencies removed" stop meaning approved with all contingencies removed? The loan officer says that he's appealing the decision, but I'm going on the assumption now that it's not going to happen. So, I'm likely out my earnest money plus my loan application fee. And, yes, I am going to move all of my accounts from B of A. Bunch of losers.

Shouldn't the condo association have a master policy to handle this?

Yes, and I believe they do. In fact, the coverage that I got for my condo covers my part of any repairs that aren't completely covered by the condo association. I think they're looking for excuses to not loan money. Apparently they're not doing so well right now financially. If they really go through with this they'll be losing my business. It's not much, but they won't have my money to waste.

Just talked to a realtive who's a real estate lawyer, and she has never heard of anything like this happening. A strange sign of the times, I guess.

Miles wrote:Ugh, but tomorrow is hell day. I am flying my cats to my parent's house in Charlotte before I move back next month. ... Poor Septimus and Allegra have to fly below with the cargo because I just couldn't afford to fly them both in the cabin.

Miles wrote:Ugh, but tomorrow is hell day. I am flying my cats to my parent's house in Charlotte before I move back next month. The cats and I have a nine hour trip (loooong layover in Atlanta) not including the ride downtown through traffic. To make the day even more unbearable, I'll be worrying about my cats the entire flight. Poor Septimus and Allegra have to fly below with the cargo because I just couldn't afford to fly them both in the cabin. At least they'll be flying together in the same carrier so they'll have some company. But still, I feel like a horrible father.

Wish me luck. See ya'll Monday when I get back.

ArkieDukie wrote:So, I'm likely out my earnest money plus my loan application fee.

colchar wrote:

ArkieDukie wrote:So, I'm likely out my earnest money plus my loan application fee.

your situation sucks but I have a question - they charge you a loan application fee?!? Are you kidding? There is no way that would happen at a Canadian bank (I doubt the government would permit it even if one tried).

Miles wrote:Ugh, but tomorrow is hell day. I am flying my cats to my parent's house in Charlotte before I move back next month. The cats and I have a nine hour trip (loooong layover in Atlanta) not including the ride downtown through traffic. To make the day even more unbearable, I'll be worrying about my cats the entire flight. Poor Septimus and Allegra have to fly below with the cargo because I just couldn't afford to fly them both in the cabin. At least they'll be flying together in the same carrier so they'll have some company. But still, I feel like a horrible father.

Wish me luck. See ya'll Monday when I get back.

TillyGalore wrote:

Miles wrote:Ugh, but tomorrow is hell day. I am flying my cats to my parent's house in Charlotte before I move back next month. The cats and I have a nine hour trip (loooong layover in Atlanta) not including the ride downtown through traffic. To make the day even more unbearable, I'll be worrying about my cats the entire flight. Poor Septimus and Allegra have to fly below with the cargo because I just couldn't afford to fly them both in the cabin. At least they'll be flying together in the same carrier so they'll have some company. But still, I feel like a horrible father.

Wish me luck. See ya'll Monday when I get back.

Katie, Spencer, Moneypenny and I are all sending vibes to you, Septimus, and Allegra for a safe and pleasant trip. If I had to fly my kitties in cargo I'd be feeling as bad as you are. Please let us know how things go.

Miles wrote:We made it to Atlanta and I suppose the cats are cool. Strangely enough, once we got into the airport they calmed down. Hope the flight wasn't too rough. One three hour layover, one flight, and one more 30 min drive to go. Thanks for the vibes everyone.

YmoBeThere wrote:

Miles wrote:We made it to Atlanta and I suppose the cats are cool. Strangely enough, once we got into the airport they calmed down. Hope the flight wasn't too rough. One three hour layover, one flight, and one more 30 min drive to go. Thanks for the vibes everyone.

Glad its going well...G+K hope the rest of the trip is similarly uneventful.

Miles wrote:

TillyGalore wrote:

Miles wrote:Ugh, but tomorrow is hell day. I am flying my cats to my parent's house in Charlotte before I move back next month. The cats and I have a nine hour trip (loooong layover in Atlanta) not including the ride downtown through traffic. To make the day even more unbearable, I'll be worrying about my cats the entire flight. Poor Septimus and Allegra have to fly below with the cargo because I just couldn't afford to fly them both in the cabin. At least they'll be flying together in the same carrier so they'll have some company. But still, I feel like a horrible father.

Wish me luck. See ya'll Monday when I get back.

Katie, Spencer, Moneypenny and I are all sending vibes to you, Septimus, and Allegra for a safe and pleasant trip. If I had to fly my kitties in cargo I'd be feeling as bad as you are. Please let us know how things go.

We made it to Atlanta and I suppose the cats are cool. Strangely enough, once we got into the airport they calmed down. Hope the flight wasn't too rough. One three hour layover, one flight, and one more 30 min drive to go. Thanks for the vibes everyone.

ArkieDukie wrote:Okay, this continues to be a major headache. My realtor got the condo association to send a statement showing the amount of money in reserve. In fact, it shows that there's more than enough money in reserve. The underwriters still balked, but it's being appealed to someone above them. That happens at 8:00 am CDT. My closing is at 9:00 CDT. So, I'm still scheduled to show up and close tomorrow morning, and we may or may not have money from the bank at that time. I have a cashier's check ready to go but won't hand it over unless/until the bank's money is there. Had to postpone appliance delivery until Monday. I'm getting more gray hairs even as I type.

ArkieDukie wrote:Okay, this continues to be a major headache. My realtor got the condo association to send a statement showing the amount of money in reserve. In fact, it shows that there's more than enough money in reserve. The underwriters still balked, but it's being appealed to someone above them. That happens at 8:00 am CDT. My closing is at 9:00 CDT. So, I'm still scheduled to show up and close tomorrow morning, and we may or may not have money from the bank at that time. I have a cashier's check ready to go but won't hand it over unless/until the bank's money is there. Had to postpone appliance delivery until Monday. I'm getting more gray hairs even as I type.