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Tuesday, December 18, 2007

I'm trying to think positive, I really am.

Just because most of Western Washington was flooded two weeks ago, doesn't mean my life to has to become a flood as well. The last few weeks have been a very difficult time for our family. We have finally received the closing checks from the mortgage loan we applied for over two months ago. We found a mortgage company through Lending Tree that was willing to service our delicate housing situation. That loan was supposed to close prior to Halloween. As underwriters like to take their time, and drag their feet, we were finally signing papers December 11th. The final checks were cut yesterday at the title office. I had to drive the necessary twenty minutes into Silverdale to pick them up. This was not a drive I was looking forward to since this is the Christmas season.

Silverdale, for those of you outside of Kitsap County, is three square miles of unincorporated SHOPPING MALL. The bulk of Silverdale is commercial development resulting from a certain City of Bremerton that twenty years ago decided to write some very lousy tax codes for businesses. Anything commercial at that time decided to move out of city limits. Henceforth, we have the sprawling developments of East Bremerton and Silverdale. Sprawling development of Kitsap County has caused continued spreading of suburbia as well as an overgrown, under maintained, wacko highway system. Did I mention the public transportation system isn't exactly convenient here? You can't get from Port Orchard to Silverdale by bus in less than three hours. You can't even get from Bremerton to Silverdale in less than two hours. Driving is much easier and faster. from our house in Gorst to Silverdale, we normally only have to account for twenty minutes. In December, however, we have to give the drive almost an hour.

Picking up these checks should have been exciting. This should have been a moment to sing praises over. Instead, I'm ready to wish everything real estate involved out of my life. This last straw came with the title company changing the previous mortgage payoff by $2000. I called my loan officer at Castle Point to ask about this, and she couldn't believe what she heard. Not once did the title office call her office to verify numbers. Title called the financier of my old loan and changed the changed the numbers without telling my mortgage company. This is highly illegal. Castle Point now has to send me new HUD documents because I told them about the change made by the title office.

Prior to this, I was ripped by the appraiser who did the evaluation on our house. Not one of the properties used in his comparison ratings even comes close to the specs of my property. I didn't even know what was in the appraisal until my loan officer sent me a copy of his work the day we closed. Our appraisal was nowhere in the closing papers. I would have never seen what he said or did if she'd not sent me the appraisal. I can't stand King County appraisers. I've never known one to get anything right in Kitsap County.

In addition to lowering the value of my property, he decided in his paperwork, to make mistakes about the market statistics. First, he said the house was not recently on the market. Later, he said the house had been on the market, but had been taken off. This is a big problem for mortgage companies. You aren't supposed to qualify for a loan when a house is on the market. Recent removal from the market changes the qualification ability for a loan.

Since the processing department at Castle Point caught this error, our loan had to be approved by the investor. This became a fun situation. They decided to ask for copies of payments for the last twelve months. Castle Point had a problem with this. We are Fannie Mae approved. Asking for anything more the day before closing was unacceptable to them. I've never heard of one underwriter chewing the butt of another.

Between everything we have been through with this, I'm ready to remove lenders, appraisers, title officers, and real estate anything from my life. Trying to find the goodness in this is not happening right now. I know there is a difference between God's time and our time here on Earth. Why this is happening in our time, I don't understand. This whole situation makes me angry. I'm really trying to stay positive. I'm runnin gout of time here at the library. I have other stuff going on tonight, so going home to post a blog was not happening.

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