Ray, I appreciate what you are saying. I tend to think the woman went nuts because the borrower wants to see what the numbers are and she knows she was trying to pull a fast one, but there could just be abig mis-understanding. It is very odd for the broker to blow up given that the she should be sensitive to the potential for overwhelm a buyer faces. Maybe the buyer is getting “buyer’s remorse” but even if he is, a lender has to take that in stride. Not every deal makes it.Buyers flip out pretty often. A point on the loans that do close is a lot of money considering in most cases all the broker does is sell the loan and then the processor handles the rest. That should make up for the deals that don’t work out.
To OP. I wouldn’t worry too much about going beyond the closing date. This happened to me on the first house I bought many moons ago. I fired the mortgage woman and got a new one 9 days before close. We got it done four days late but I got a great loan. If you do this just get let escrow know and inform all parties. You should probably get an an escrow extension signed but even if you don’t I doubt this deal has problem going a few days or even a few weeks over if needed.Maybe there is a small penalty to the seller. I’d pay it if you can’t get this on track immediately.Chalk it up to experience.
