Wtf- re-fi nearing close- told today escrow is $2000 short

[Broncojohnny]

I love how the banks/closing companies say "Bring another $2000 to closing" like just everybody has that kind of cash laying around. It seems like when they find a short fall of that amount, it should generate an immediate phone call to the applicant. That kind of money could be the deciding factor for a lot of people on if they got the loan or not.

It is interesting how their attitude has no concern in it. If it is a small mortgage they are working on, you'd think the light bulb would go off in their head and they might notify the borrower immediately. But really, don't kid yourself, if he got a phone call they figured it out right before dialing the phone. In my experience the people at banks and title companies are not the smartest people in the world. Obviously there are exceptions.

[SVT Lurch]

Bank of America rules: your taxes are to be paid in full if they are due within 90 days of closing .

Ouch, I bet that's a fun one to explain to people.

[AdamLX]

Ouch, I bet that's a fun one to explain to people.

It's going to be killer for all the Texas loans closing in August since this will be the first time around that they deal with it. Stupid rules like this and way too much inside bullshit, I pulled the plug last week when I got back from D.C.

[SVT Lurch]

I don't blame you one bit, that's ridiculous.

[jefehbk]

so the moral of the thread: dont do mortgage business with Bank of America

[red95gts]

so the moral of the thread: dont do business with Bank of America

Fixed.