Posted on: 28th Apr, 2009 10:58 am
Im in contact to buy and will be closing in 30 days; my loan officer have been ignoring my emails and phone calls for weeks. I havent lock on a rate yet, she keep telling me to wait it out and that the rates will get better when it gets closer to closing date. Only thing i got from her is a prequalification letter. I havent even sign anything with her yet. Im getting tire of her ignoring me and not answering my questions. Can i let her go and find my self another loan officer. What are my options. Someone help me please this is my first home.
you can absolutely let her go and find a new loan officer. it is unconscionable for your loan officer to treat you that way. one good thing, rates have been better lately, so that's not been hurting you.
by all means, you should have had substantial contact, and there ought to have been disclosures and plenty of documents for you to sign. your 30 day window is closing fast, so you had better get on this right away.
i hope you haven't wasted any money on this deal yet - with the loan officer.
and, for the masses: it makes a great deal of difference to know who your loan officer really is - to be someone you are able to rely on for information and for hand-holding at times, if needed. not any old loan officer will do.
by all means, you should have had substantial contact, and there ought to have been disclosures and plenty of documents for you to sign. your 30 day window is closing fast, so you had better get on this right away.
i hope you haven't wasted any money on this deal yet - with the loan officer.
and, for the masses: it makes a great deal of difference to know who your loan officer really is - to be someone you are able to rely on for information and for hand-holding at times, if needed. not any old loan officer will do.
If i fire my loan officer will she make any comission and can she come around and sue me?
you don't need to "fire" her. after all, she doesn't even speak with you, right? you simply move on. in my view (perhaps not shared by everyone else, but that's ok), you owe her nothing. poor service begets poor relations, and the end result is the loss of a customer. so be it.
of course you would
It sounds to me like your loan officer either made false promises to you as far as rate and fees or they are simply lazy. Either way, it is not someone you want working for you. Contact another individual and see if you feel comfortable and make sure they are up-front and honest with you about any questions you may have. Take your time. I understand you would like to close on this home in 30 days but what you will be paying for the next 30 years should be taken very seriously. I hope this helps...
thank you every for all the advice
I agree, you should move onto a new loan officer. This brings up something that I wanted to mention about large lending institutions. You may think that just because a bank is "big" that their service and rates are superior. That is not necessarily true. The service you receive will depend upon the individual loan officer you are dealing with. You could have an excellent loan officer while the one sitting right next to him or her could be horrible.
So, yes it makes sense to find a loan officer who has provided quality service and stay with that loan officer even if he/she moves on to a different broker or bank.
So, yes it makes sense to find a loan officer who has provided quality service and stay with that loan officer even if he/she moves on to a different broker or bank.
