House Buying Thread

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Sat Oct 17, 2020 1:15 pm

Our friends bought 44 acres near bushy run. Super fun but a ton of work

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Sat Oct 17, 2020 1:20 pm

Oops, start of a new page. Update on the refinance: we ended up closing today anyway. We called Better last night to cancel, since they never got back to us. They said they’d be in contact Monday to reschedule and they’d call the notary so he wouldn’t come today.

Well, the notary showed up anyway. I’m out raking leaves, my wife is painting pumpkins with the kids, we’re obviously not ready to sign. He said they updated the closing costs last night, but never told him we postponed. They never told us the closing costs were updated. I looked at the numbers and they seemed fine. So we signed.

What a total cluster, glad it’s finally done. I had to drive to PNC to get a certified check and luckily the notary had another appointment in our area so he could stick around and wait.

NTP66
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Postby NTP66 » Sat Oct 17, 2020 1:54 pm

That’s great to hear. The amount of money saved is worth the trouble to me, that’s for damn sure.

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Sat Oct 17, 2020 8:39 pm

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve

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Postby NTP66 » Fri Oct 23, 2020 11:06 am

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Fri Oct 23, 2020 12:10 pm

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.
Is The Money Source a subsidiary of Better? I see that they will be managing my mortgage, but had never heard of them. I figured this was the case and I'd have another bank handling the loan soon enough. I just hope I don't get Northwest Savings again. Totally out of touch with current technology.

BTW, I got two emails for $500 off a refinance AFTER I refinanced. :lol:

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Postby NTP66 » Fri Oct 23, 2020 1:00 pm

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.
Is The Money Source a subsidiary of Better? I see that they will be managing my mortgage, but had never heard of them. I figured this was the case and I'd have another bank handling the loan soon enough. I just hope I don't get Northwest Savings again. Totally out of touch with current technology.

BTW, I got two emails for $500 off a refinance AFTER I refinanced. :lol:
Better told me that The Money Source is who they use to handle the mortgage in between refinancing and the selling of your mortgage to your permanent lender. They then told me that they've been keeping up to 25% of the mortgages to service themselves, though they do not use TMS for that. I figured that if they're servicing some loans permanently, it made sense to also handle the temporary ones, but I guess not.

Also, Northwest isn't in their list of lenders they work with:
ACH Trust• Ally• AmeriHome Mortgage• ArcHome• Associated Bank• Bayview• Better Mandatory• Better Refi• BetterSolar• Better Held For Sale• BetterHFI• BofI Federal Bank• BBT• Brokered• Caliber Home Loans• Chase Correspondent• Citi• Deephaven• Ditech• Fannie• Fifth Third Mortgage• Flagstar Bank• Galton Funding• Better-Second Liens• Home Point Financial• Impac• Lakeview• LenderLive• Merchants Mortgage• Mid America Mortgage• MLD Mortgage• Mr Cooper• NewRez• Northpointe Bank• NYCB Mortgage Bank• Onslow Bay• PennyMac• Provident Funding• SG Capital Partners• SunTrust• Texas Capital Bank• TIAA Bank• US Bank Correspondent• United Bank• Wells Fargo• WinTrust Mortgage• The Money Source (TMS) is our interim sub-servicer. Clients may end up submitting their first payment(s) to TMS until their loan is sold to another investor if it is not serviced by Better.
As for those emails... :lol:

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Postby robbiestoupe » Wed Nov 25, 2020 5:15 pm

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.
Just got a letter that I’ll be lining the pockets of a certain Mr. Cooper as well. Good to see from you that they are a reliable lender.

NTP66
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Postby NTP66 » Wed Nov 25, 2020 5:18 pm

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.
Just got a letter that I’ll be lining the pockets of a certain Mr. Cooper as well. Good to see from you that they are a reliable lender.
Nice! I have nothing but great things to say about them. When I wanted to drop PMI early and also my escrow account, it was a piece of cake. They are inn Quicken, too, if you use it to sync your money data. They have a real good website, with nice, detailed statements.

They’re the complete opposite of Wells Fargo.

mac5155
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Postby mac5155 » Wed Nov 25, 2020 10:24 pm

In mortgage refi, if you go from a bank that doesn't escrow taxes to one that does, do you have the option to not escrow taxes?

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Postby dodint » Wed Nov 25, 2020 10:49 pm

I thought you could opt out of escrow of taxes and insurance anywhere.

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Postby Willie Kool » Wed Nov 25, 2020 11:30 pm

Just paid off our mortgage this month. Gonna be kinda weird paying taxes and insurance after having it all handled by Wells Fargo for the last 20 years.

robbiestoupe
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Postby robbiestoupe » Thu Nov 26, 2020 5:58 am

I thought you could opt out of escrow of taxes and insurance anywhere.
Only if you do not have PMI. At least that was the case for my previous

Troy Loney
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Postby Troy Loney » Thu Nov 26, 2020 7:09 am

I thought you could opt out of escrow of taxes and insurance anywhere.
Only if you do not have PMI. At least that was the case for my previous
There are other situations where escrow could be required. it also depends on the size of the lender, some small lenders don't have escrow capability.

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Postby NTP66 » Thu Nov 26, 2020 7:28 am

I thought you could opt out of escrow of taxes and insurance anywhere.
Only if you do not have PMI. At least that was the case for my previous
There are other situations where escrow could be required. it also depends on the size of the lender, some small lenders don't have escrow capability.
This, though those cases are rare. In Pa, if you don’t have PMI, you should be able to drop your escrow account without issue.

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Postby NTP66 » Thu Nov 26, 2020 7:29 am

Just paid off our mortgage this month. Gonna be kinda weird paying taxes and insurance after having it all handled by Wells Fargo for the last 20 years.
Congrats, WK. Not having to send money to those corrupt **** is always a positive.

robbiestoupe
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Postby robbiestoupe » Thu Nov 26, 2020 11:08 am

I’ve already set up a reserve account at PNC where I’ll dump what would have been my escrow every month. It’s nice that I got almost half of next year’s payments back from switching mortgages

I’m sure I’ll feel the pain of paying school taxes all the more now that I’ll be directly getting the bill for it.

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Postby dodint » Thu Nov 26, 2020 11:10 am

RIGHT?!

NTP66
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Postby NTP66 » Thu Nov 26, 2020 11:15 am

:lol:

robbiestoupe
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Postby robbiestoupe » Thu Nov 26, 2020 11:57 am

The summoning worked!

Nuge
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Postby Nuge » Thu Nov 26, 2020 12:16 pm

We’ve never escrowed. Our federal tax return goes right into an account we only use to pay our spring taxed and insurance.

mac5155
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Postby mac5155 » Thu Nov 26, 2020 5:26 pm

I have heard instances where a refinance will trigger a reassessment by me. I don't think that the people know what they're talking about but he was adament about it so I'm trying to see if a refi will tip off the county assessment office.

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Postby NTP66 » Tue Dec 15, 2020 7:32 am

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.
Just got a letter that I’ll be lining the pockets of a certain Mr. Cooper as well. Good to see from you that they are a reliable lender.
When is Mr. Cooper officially taking over the servicing of the loan? They took over as of 12/1 for me, but TMS has been slow to actually get the paperwork and my first payment transferred over to them. I've already made my December payment with MrC, but can't make any additional principal payments until my account is up to date. Kinda annoyed with TMS over it, though I'm completely protected from any late fees or dings for a full 60 days.

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Tue Dec 15, 2020 8:34 am

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.
Just got a letter that I’ll be lining the pockets of a certain Mr. Cooper as well. Good to see from you that they are a reliable lender.
When is Mr. Cooper officially taking over the servicing of the loan? They took over as of 12/1 for me, but TMS has been slow to actually get the paperwork and my first payment transferred over to them. I've already made my December payment with MrC, but can't make any additional principal payments until my account is up to date. Kinda annoyed with TMS over it, though I'm completely protected from any late fees or dings for a full 60 days.
Yeah, running into a similar issue. I only made one payment with TMS for 12/1. I got a letter around Thanksgiving telling me to hurry up and pay it, because they sold the loan and couldn't transfer it until I made the payment. Well, I set up an autopay for 11/30 on your website, doofuses. Next payment to Cooper is due 1/1, but I've heard nothing about the loan being transferred. Don't even have an account with them yet as far as I know.

Did you physically mail a check for the first MrC payment? Looks like that's what I'll have to do.

NTP66
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House Buying Thread

Postby NTP66 » Tue Dec 15, 2020 8:41 am

Yep. Sucks I had to be so adamant about making it right but in the end I’ll save a butt load. Thanks again for the req. If I’m ever in philly I’ll buy you a drink or twelve
I just confirmed with The Money Source (the temporary lender) that my mortgage was sold back to Mr. Cooper (who I was with before the refinance). That was my best case scenario, so I'm extremely happy. If you're curious who yours was sold to, you should be able to find out if you give them a call.
Just got a letter that I’ll be lining the pockets of a certain Mr. Cooper as well. Good to see from you that they are a reliable lender.
When is Mr. Cooper officially taking over the servicing of the loan? They took over as of 12/1 for me, but TMS has been slow to actually get the paperwork and my first payment transferred over to them. I've already made my December payment with MrC, but can't make any additional principal payments until my account is up to date. Kinda annoyed with TMS over it, though I'm completely protected from any late fees or dings for a full 60 days.
Yeah, running into a similar issue. I only made one payment with TMS for 12/1. I got a letter around Thanksgiving telling me to hurry up and pay it, because they sold the loan and couldn't transfer it until I made the payment. Well, I set up an autopay for 11/30 on your website, doofuses. Next payment to Cooper is due 1/1, but I've heard nothing about the loan being transferred. Don't even have an account with them yet as far as I know.
I spoke with TMS about this, and they said that the automailer sends out that payment notice, even though we're supposed to ignore it; we basically have to pay the new provider. However, if you accidentally pay them, they will forward it along. Kinda sloppy, but whatever. MrC did tell me that they started getting paperwork in this week, and that they expect the payment to be transferred, too, so I should hopefully be up to date by next week.

I referred my parents to Better.com, as well, and they're in the middle of working through a refinance now. Got them $500 off their closing costs, and I'm still trying to get my parents to have WF give them an estimate to see if it comes in lower so that Better will match it. They can't wait to never have to pay WF another penny again, as they've had nothing but problems with them over the years.

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