Virginia Beach Home Loans: September 2007

"Not your concern" Are you kidding me?!?!?

I am having a difficult time with a loan that I am working on. Original I just estimated off of the top of my head taxes, and PMI. The PMI coverage required was higher than I estimated and the taxes were higher than I estimated. I locked in a great rate and everything that I promised I have delivered on. Now everything is done on the deal and we are about to move forward with closing. Taxes on the property are $600.00 per month, PMI is $256.00, and insurance is $65.00. Those monthly housing expenses are completely out of my control. I spoke with her this morning, she tells me that she can only go as high as $2,475.00 per month for her payment, but that $2,500.00 is going to be too much. When I initially qualified her I had to estimate on the taxes because she had no idea where they were. When I attempted to get the tax information from her attorney, I was told that it is "not your concern" then he hung up on... but now its my responsibility that the payment including taxes, and PMI has gone up? The P&I payments that I quoted on the GFE have not changed and that is what I have control over. I have zero control over PMI and her scores combined with her high loan to value (higher than originally expected) require more coverage than I originally anticipated, but I told her about the increase in PMI immediately. Taxes I estimated at $500.00 per month which I believed was reasonable for the area. The taxes ended up being $100.00 more per month than my estimate. These circumstances are outside of my control. It is crazy to me how much we are responsible for explaining things that "are not your concern". Now the expenses that I have no control over come up to $922.00 per month.

Christopher Ohlsen

37 Boynton Ave

(845) 243-5293 (Office)

(518) 565-0799 (Cell)

www.plattsburghmortgage.net

chris.ohlsen@guaranteedrate.com

 

 

Comment balloon 6 commentsChristopher Ohlsen • September 21 2007 10:38AM
"Not your concern" Are you kidding me?!?!?
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