ghini: (Default)
Ghini ([personal profile] ghini) wrote2008-12-23 12:49 pm
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grrrrr

No mortgage for me today. They want "more comps"

This means I probably can't close until next week. Probably Tuesday.

STABBY. STAB. STAB. STAB!
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[identity profile] blackbox42.livejournal.com 2008-12-23 08:23 pm (UTC)(link)
That sounds like a catch-22. If they won't sell to you because no one else is buying in that area how will anyone buy?

[identity profile] mumpish.livejournal.com 2008-12-23 11:52 pm (UTC)(link)
What's a comp?

[identity profile] uglor.livejournal.com 2008-12-24 12:45 am (UTC)(link)
Comps are comparables. They want examples of other properties in the neighborhood that are for sale or have just sold. They want proof my $110k mortgage isn't going to be for a house that's only worth $70k next year.

[identity profile] covenant.livejournal.com 2008-12-24 05:35 am (UTC)(link)
They did that on mine too. I think it took a week for the comps to come back. Wachovia extended my rate lock at no charge since it was their fault I couldn't close on time.
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