Monday, June 29, 2009


I need to vent. We still have not yet gotten our rehab loan. The underwriter is apparently still working on it. So we are playing the waiting game, but it has been a long, frustrating process. We did get the house to appraise for the amount we need, which is great! I may post more about the loan process after we close, for anyone trying to decide if they want to try getting a rehab loan. In the meantime, we received a letter from our mortgage company saying that they were informed that our home owners policy had been terminated. Now, I knew this was coming, but it was not supposed to happen until the middle of July.

When we bought the house last year, our insurance company came up with a list of things that they wanted us to do - paint the house, fix the cracks under the porch, fix the garage door and window. When I talked to them last year, the person told me that I had a year from that day to finish it, which was the middle of July last year. But instead they cancelled our policy from the day we bought the house.

What is really surprising is that we got nothing from them. There was no letter, no email, phone call, nothing - to say our policy was not going to be renewed. Anyway, we were forced to find a new insurance company in a panic to make sure we had coverage. I am pissed with the previous company for not informing us or we would not have known had the mortgage company not contacted us. I called them to tell them so and got the runaround, but someone is supposed to call me back in 24 hours.....


  1. Sounds like you are trying for the same type of loan we just got. Is it the 203k?

  2. It's a great loan but patience is key! It's a lengthy and cumbersome process. Hang in there. My fingers are crossed for you.