The stressful part of this building process has been with NVR. OH. MY. GOODNESS! They have been a train wreck the entire time. Not only do they lose paperwork but the communication has been horrible. Now, I see why the have the incentive of a basement, morning room or whatever else they try to give. It's all because if they we're not giving anything, no one, I mean, no one would use them as a mortgage company. I know there is the famous evaluation that NVR gives at closing and surely we will provide them with some thoughtful feedback. But truth be told, as bad as NVR is the real problem lies within the mortgage crisis and how people were able to get homes with no documents and barely had to prove an income. And now, it's like they conduct an evasive internal exam. Give us, the American people a break! I hate to get political on this blog, but the truth of the matter is hard working , honest people are being screwed because greedy, lying and conniving politicians misused the system.
Yes, I'm angry that it is so hard to secure a mortgage and we all have to go through this pain process. How many times do I need to send you my bank statements? Oh, I have to explain every deposit into my account over $1,000 and you have to verify where it comes from--every two months? Patrick keeps reminding me that we're in the final stretch and it is only by the grace of God that we are able to get the home that we wanted and had the right to choose. So, I get that through the pain there is a silver lining. But, venting is a good thing, right?
Switching gears to the house, is moving along but I will not have any progress pictures until next week. Until then here is a picture of the front of our house with the shutters going up. Happy building everyone, and let's try not to have NVR get us all down! Happy building…
House is looking beautiful! And I hear ya on the mortgage system. When I got my first home loan 10 years ago, my mortgage broker told me he could get me anything I wanted. And he wasn't kidding. It was like a blank check. That wasn't right and was exactly how many folks ended up in foreclosure. But this is also crazy. There's got to be some happy medium!
ReplyDeleteThanks for your comments WJ! I bought my house 12 years ago and was told the same thing…a happy medium is definitely needed!
ReplyDeleteDanielle... I have come to the conclusion to just expect the very worst with the mortgage process...keep track of every penny....don't do transfers or too many deposit and...copy...copy...copy everything and expect to be asked over and over and over again....so knowing this now I am prepared to deal with this event!!!!!!!thanks to this blog.....I know what to expect and just keep every piece of mail and document.........
ReplyDeleteAbsolutely! I decided months ago we will keep all of our requested documentation on a thumb drive for both of us and keep a folder in our email to access from our phones so if they request any documentation we can just push the button and I also have a folder with everything in it.
DeleteWe had the same experience as the two of you when we purchased our townhouse in 2004. We did not have a loan approval a week before settlement. We just happen to drive by to check with our loan officer and found this news out. They raced around to prepare the package and fedexed it by 8 pm and we still closed the following week! NOT THIS TIME! And Patrick is right, through God's grace and his MERCY we are blessed to build and we have so much to be thankful for and I agree there comes a moment somewhere along the process that we just can't take it! So we vent! And than we drop to our knees!
Btw-Dana are you blogging? How can we follow your journey and what home are you building? Feel free to follow us at ricknadae.blogspot.com and click join this site
We close Oct 10 and we have had to resubmit some items already. Luckily we are pretty much prepared, but you never know what they will ask about next!
ReplyDeleteFor me Ryan has great floor plans, the people are super nice BUT the workmanship isn't what it should be.
The house looks amazing!!! I still LOVE LOVE LOVE the savoy!
ReplyDeleteGirl I hear you on NVR. If you read my blog you know my personal horror story with them. My advice is keep track of EVERYTHING... make copies of every check you deposit: they told us anything over $1000 had to be documented as well so I only made copies of those checks: when it came down to it, they were asking for copies of $40 checks and explanations for if I made 2 ATM withdraws in one day and what I was doing with the cash.... keep in my mind we had perfect credit, put more than 20% down on the house, and were WAY under the amount we were approved for.
We are still getting letters from NVR now that they are trying to sell our loan asking us to sign more papers that were overlooked and asking us to initial forms that were filled out wrong. We've taken the stance that we are no longer signing everything and if they get stuck with our loan then too f-ing bad, you should have done your job right the first time.
That sounds harsh but I am fed up to my eyeballs with them! Hopefully your process goes smoother!