Am I being given a run around or is this normal?

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All righty. I am buying a co-op. I went to contract on July 13th. My contract says the closing should be on or about Sept 15th. However, my interest rate has been locked and it will end this coming Sunday, giving me four more business days before it ends. My loan has been with the underwriter for like 3 weeks! Last Weds, they wanted more documents, which I sent Thursday morning. Last Friday, they wanted more documents, which I sent, and a letter from the seller's attorney, which was sent today (Monday). I still do not have a closing department. The processor tells me that the loan is at the closing dept and that I should hear from them (Which I didn't). The mortgage officer who I dealt with in the beginning said I should get a clear to close either by 5pm today or 9am tomorrow. I've been calling all parties involved except for my real estate agent. Is this normal? Can I really close this week? What could the hold up be?

Am I being given a run around or is this normal?

Sounds perfectly normal to me. Lenders will drive you crazy with that needing more paperwork thing.

Am I being given a run around or is this normal?

sounds like you got babboozled

Am I being given a run around or is this normal?

There is probably a problem. Most of the time if extra documentation is needed, it means the underwriter needs further explanation of how the loan officer is trying to present your case. You MAY want to look into other options just as a backup. Especially since this is for a purchase. You are going to lose your rate lock anyway. It isn't likely that you will close in time if you are still being given the run-around. (I could be wrong, but do you want to leave it to chance???)

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Am I being given a run around or is this normal?

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