UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: wasmick Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127563  
Subject: Re: Chase no longer issues commitment letters? Date: 7/5/2013 1:32 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Is this true? Does Chase no longer do loan commitments?? This smells fishy...
Sounds more to me like a typically confused real estate agent.



I agree with Dave albeit for a different reason.

Yes, it sounds like a typically confused RE agent, but I wouldn't extrapolate that into "Chase no longer issues commitment letters" nor does a commitment letter guarantee funding of a loan, it does however validate that certain parts of the process have been completed and that if all conditions of the commitment are fulfilled, the Bank is generally committed to close the loan.

The whole story sounds like BS and I'm sure the RE agent (who unless they have signed and disclosed in the transaction the existence of a specific buyer's agent agreement.......actually works for you, not the buyer) doesn't actually know what he/she is talking about.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Post of the Day:
Apple

Apple and Ninety Years Ago
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement