Forum Replies Created
-
AuthorPosts
-
SK in CV
Participant[quote=sreeb]I have also found the home warranty companies hard to deal with.
When we bought the house our home inspector evaluated the dishwasher as servicable.
Six months later the diswasher rusted through and their inspecter denied the claim as a preexisting condition.
The inspector/clains evaluator was the same guy!!![/quote]
My recollection is that almost every claim we made was initally denied for some reason or another. I suspect that is their standard MO. Deny all claims. Never had to bring in an attorney, but aggressive phone calls and sternly written letters with quotes from the actual policy document (or brochure in some cases, where there was a conflict) almost always got the initial denial reversed. It was obnoxious, annoying and frustrating, but my pool heater (or maybe filter) was the only claim I couldn’t get covered because of a specific exclusion. The next year I added the pool and got it paid for. (That may have been the year I changed companies.) I did get a waterfall pump covered, despite the pool exclusion, even though the waterfall emptied into the pool.
Funny thing was, after changing the companies, the company I left called at least a dozen times trying to get me to switch back to them, despite having paid out in claims at least double the premium amount every year.
Participant[quote=sreeb]I have also found the home warranty companies hard to deal with.
When we bought the house our home inspector evaluated the dishwasher as servicable.
Six months later the diswasher rusted through and their inspecter denied the claim as a preexisting condition.
The inspector/clains evaluator was the same guy!!![/quote]
My recollection is that almost every claim we made was initally denied for some reason or another. I suspect that is their standard MO. Deny all claims. Never had to bring in an attorney, but aggressive phone calls and sternly written letters with quotes from the actual policy document (or brochure in some cases, where there was a conflict) almost always got the initial denial reversed. It was obnoxious, annoying and frustrating, but my pool heater (or maybe filter) was the only claim I couldn’t get covered because of a specific exclusion. The next year I added the pool and got it paid for. (That may have been the year I changed companies.) I did get a waterfall pump covered, despite the pool exclusion, even though the waterfall emptied into the pool.
Funny thing was, after changing the companies, the company I left called at least a dozen times trying to get me to switch back to them, despite having paid out in claims at least double the premium amount every year.
Participant[quote=sreeb]I have also found the home warranty companies hard to deal with.
When we bought the house our home inspector evaluated the dishwasher as servicable.
Six months later the diswasher rusted through and their inspecter denied the claim as a preexisting condition.
The inspector/clains evaluator was the same guy!!![/quote]
My recollection is that almost every claim we made was initally denied for some reason or another. I suspect that is their standard MO. Deny all claims. Never had to bring in an attorney, but aggressive phone calls and sternly written letters with quotes from the actual policy document (or brochure in some cases, where there was a conflict) almost always got the initial denial reversed. It was obnoxious, annoying and frustrating, but my pool heater (or maybe filter) was the only claim I couldn’t get covered because of a specific exclusion. The next year I added the pool and got it paid for. (That may have been the year I changed companies.) I did get a waterfall pump covered, despite the pool exclusion, even though the waterfall emptied into the pool.
Funny thing was, after changing the companies, the company I left called at least a dozen times trying to get me to switch back to them, despite having paid out in claims at least double the premium amount every year.
Participant[quote=sdrealtor]You should have no problem getting a 1 year home warranty. It is very standard and actually a bit surprising that it wasnt part of the original offer your agent wrote.
[/quote]
This is exactly what I was thinking. If the seller won’t pay for it, pay for it yourself. Make sure you get a policy that covers the HVAC system. Read the fine print. If it requires that you do the recommended maintenance, then do the recommended maintenance.Last house I bought, I renewed the policy every year until i sold a few years ago. It paid for 3 pool pumps, dishwasher, garbage disposal, water heater, AC, furnace, trash compactor, double oven, in addition to a bunch of more minor repairs. Actually switched companies after a few years because the first was so hard to deal with. Turns out that the 2nd was just as hard to deal with but I don’t think a year went by that repairs that it paid for weren’t more than the annual premiums.
Participant[quote=sdrealtor]You should have no problem getting a 1 year home warranty. It is very standard and actually a bit surprising that it wasnt part of the original offer your agent wrote.
[/quote]
This is exactly what I was thinking. If the seller won’t pay for it, pay for it yourself. Make sure you get a policy that covers the HVAC system. Read the fine print. If it requires that you do the recommended maintenance, then do the recommended maintenance.Last house I bought, I renewed the policy every year until i sold a few years ago. It paid for 3 pool pumps, dishwasher, garbage disposal, water heater, AC, furnace, trash compactor, double oven, in addition to a bunch of more minor repairs. Actually switched companies after a few years because the first was so hard to deal with. Turns out that the 2nd was just as hard to deal with but I don’t think a year went by that repairs that it paid for weren’t more than the annual premiums.
Participant[quote=sdrealtor]You should have no problem getting a 1 year home warranty. It is very standard and actually a bit surprising that it wasnt part of the original offer your agent wrote.
[/quote]
This is exactly what I was thinking. If the seller won’t pay for it, pay for it yourself. Make sure you get a policy that covers the HVAC system. Read the fine print. If it requires that you do the recommended maintenance, then do the recommended maintenance.Last house I bought, I renewed the policy every year until i sold a few years ago. It paid for 3 pool pumps, dishwasher, garbage disposal, water heater, AC, furnace, trash compactor, double oven, in addition to a bunch of more minor repairs. Actually switched companies after a few years because the first was so hard to deal with. Turns out that the 2nd was just as hard to deal with but I don’t think a year went by that repairs that it paid for weren’t more than the annual premiums.
Participant[quote=sdrealtor]You should have no problem getting a 1 year home warranty. It is very standard and actually a bit surprising that it wasnt part of the original offer your agent wrote.
[/quote]
This is exactly what I was thinking. If the seller won’t pay for it, pay for it yourself. Make sure you get a policy that covers the HVAC system. Read the fine print. If it requires that you do the recommended maintenance, then do the recommended maintenance.Last house I bought, I renewed the policy every year until i sold a few years ago. It paid for 3 pool pumps, dishwasher, garbage disposal, water heater, AC, furnace, trash compactor, double oven, in addition to a bunch of more minor repairs. Actually switched companies after a few years because the first was so hard to deal with. Turns out that the 2nd was just as hard to deal with but I don’t think a year went by that repairs that it paid for weren’t more than the annual premiums.
Participant[quote=sdrealtor]You should have no problem getting a 1 year home warranty. It is very standard and actually a bit surprising that it wasnt part of the original offer your agent wrote.
[/quote]
This is exactly what I was thinking. If the seller won’t pay for it, pay for it yourself. Make sure you get a policy that covers the HVAC system. Read the fine print. If it requires that you do the recommended maintenance, then do the recommended maintenance.Last house I bought, I renewed the policy every year until i sold a few years ago. It paid for 3 pool pumps, dishwasher, garbage disposal, water heater, AC, furnace, trash compactor, double oven, in addition to a bunch of more minor repairs. Actually switched companies after a few years because the first was so hard to deal with. Turns out that the 2nd was just as hard to deal with but I don’t think a year went by that repairs that it paid for weren’t more than the annual premiums.
Participant[quote=captcha]
I’m not speculating, it is a concrete case.The guy went to taxpayer advocate and that did not help. The paper return was processed, the check he sent along was deposited, IRS was willing to send stamped processed return, but the lender would not take it.
The broker said they never had that problem before.
The loan was approved and they are closing today.[/quote]
I’m not disputing that you have repeated this anectdote exactly as you heard it. But even if it wasn’t 2nd hand, and you were the borrower, I would still have questions about the details. There may have been other circumstances, maybe the borrower is self-employed, or has some other source of income that necessitated IRS verification. Often there are work-arounds that are left out of the story, intentionally or otherwise.
Participant[quote=captcha]
I’m not speculating, it is a concrete case.The guy went to taxpayer advocate and that did not help. The paper return was processed, the check he sent along was deposited, IRS was willing to send stamped processed return, but the lender would not take it.
The broker said they never had that problem before.
The loan was approved and they are closing today.[/quote]
I’m not disputing that you have repeated this anectdote exactly as you heard it. But even if it wasn’t 2nd hand, and you were the borrower, I would still have questions about the details. There may have been other circumstances, maybe the borrower is self-employed, or has some other source of income that necessitated IRS verification. Often there are work-arounds that are left out of the story, intentionally or otherwise.
Participant[quote=captcha]
I’m not speculating, it is a concrete case.The guy went to taxpayer advocate and that did not help. The paper return was processed, the check he sent along was deposited, IRS was willing to send stamped processed return, but the lender would not take it.
The broker said they never had that problem before.
The loan was approved and they are closing today.[/quote]
I’m not disputing that you have repeated this anectdote exactly as you heard it. But even if it wasn’t 2nd hand, and you were the borrower, I would still have questions about the details. There may have been other circumstances, maybe the borrower is self-employed, or has some other source of income that necessitated IRS verification. Often there are work-arounds that are left out of the story, intentionally or otherwise.
Participant[quote=captcha]
I’m not speculating, it is a concrete case.The guy went to taxpayer advocate and that did not help. The paper return was processed, the check he sent along was deposited, IRS was willing to send stamped processed return, but the lender would not take it.
The broker said they never had that problem before.
The loan was approved and they are closing today.[/quote]
I’m not disputing that you have repeated this anectdote exactly as you heard it. But even if it wasn’t 2nd hand, and you were the borrower, I would still have questions about the details. There may have been other circumstances, maybe the borrower is self-employed, or has some other source of income that necessitated IRS verification. Often there are work-arounds that are left out of the story, intentionally or otherwise.
Participant[quote=captcha]
I’m not speculating, it is a concrete case.The guy went to taxpayer advocate and that did not help. The paper return was processed, the check he sent along was deposited, IRS was willing to send stamped processed return, but the lender would not take it.
The broker said they never had that problem before.
The loan was approved and they are closing today.[/quote]
I’m not disputing that you have repeated this anectdote exactly as you heard it. But even if it wasn’t 2nd hand, and you were the borrower, I would still have questions about the details. There may have been other circumstances, maybe the borrower is self-employed, or has some other source of income that necessitated IRS verification. Often there are work-arounds that are left out of the story, intentionally or otherwise.
Participant[quote=captcha]
A guy I know is buying a house. He and his wife filed paper return back in March, but for some weird reason his processed tax return was not entered into the system until few days ago. The lender would not accept IRS-stamped copy of processed tax return. He had to wait for data monkey to input all the numbers, which finally happened this week. He was originally scheduled to close near the end of May.
It was/is an FHA loan.[/quote]
This is both in response to this comment and the original poster. Tax returns on extension aren’t due until 10/15/10. Unless underwriting has become even more strict than it was in the old days, it is usually acceptable to provide the documents which substantiate income (W-2’s, 1099′, etc.) for a tax return which isn’t yet complete. Along with authorization for the lender to receive a copy (or now just a facsimilie) of the return once it’s filed. In the old days, when extensions were returned by the IRS stamped “Approved”, that approved extension was sometimes requested. But the IRS no longer does that, extensions are automatic, the form doesn’t even require a signature. Sometimes they asked for a copy of that form, but it was pretty much meaningless.
The OP is essentially in that same position, although the return is complete, just not filed and processed as far as the IRS is concerned. If the money has been paid, its a no harm, no foul kinda thing with the IRS. And it should be with the lender too. A simple explanation should suffice.
Any lenders agents out there that can verify that underwriters now require a filed return, even though it may not be yet due to the IRS? Surely they wouldnt require that when processing a loan in say February or March, before even the original due date, without extension. I’m not sure why this would be any different.
-
AuthorPosts
