This post was inspired by a Miracle - a "clear to close" received after many delays ! Amen.
"Clear to Close" - Are we having Fun Yet ??
It may be somewhat rare these days to have a Loan get through the underwriting process without getting kicked back with at least one (if not more) condition to full fill before final approval and those 3 famous words: "Clear to Close" are heard .
The odds of delays may be even more probable if the name of the lender funding the loan is on this list :
ML IMPLODE - The Mortgage Lender Implode-O-Meter - Tracking the Housing Finance Breakdown 
Recently, Jeff had a difference in opinion in talking with a buyers lender. (We represented the seller, and were wary of the offer, because the company underwriting the loan was listed on this website).
Why accept an offer in which it will be NO FUN in getting the deal to close with delay after delay or worse yet, perhaps risk meltdown at the last hour? We inform our sellers to be aware that these days, attractive PRICE and TERMS on an offer to purchase are just a tempting façade, if the DEAL does not Close & FUND by a reputable Lender.
Getting deals to close with "suicide tight underwriting" conditions is felt by many these days...recently, a doctor friend shared the comment that his lender was making him ‘jump through hoops' for the housing loan, even with a credit score in the upper 700's !
This current practice mileau, combined with weak financial backers scrambling around for last minute investors to buy notes, may negate any STIMULUS PACKAGE intent.
Times were a lot more simpler & fun then.
Maybe we will end up going back to the simpler days like Jeff's grandfather talked about, where he held his own papers for others - no lender involved - he was the BANK !
Thanks for stopping by and reading our Northwest Indiana Real Estate Blog!
Just as the seasons change here in NW Indiana, we help clients achieve their Real Estate Goals in various seasons in life. We look forward to serving you.
Sincerely,
Jeff & Grace Safrin - "Spouses Selling Houses" TM
Real Estate Broker Associates with F.C. Tucker Advantage Realty - phone # 219-405-1232.
Valparaiso residents serving Lake, Porter, La Porte, Jasper & Newton Counties in NW Indiana.
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Sincerely,
Jeff & Grace Safrin, Broker / Owners
F.C.Tucker 1st Team Real Estate
13 Lincolnway Suite # 203
Valparaiso, IN 46383
Office # 219-309-9930
serving Lake, Porter, La Porte, Jasper, Newton & Starke Counties in NW Indiana
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