Re: Time for mortgage approval from Citizens First
Nanci,
The ease of dealing with Citizens is what attracts us as well. It just seems that when you are dealing with a finely oiled machine as the closing process at TV is made out to be, by inserting a new component into that machine in the form of another mortgage company, the potential for bad things to happen gets bigger. In our case, the penalty for not closing on time is MUCH bigger than $250 per day. Part of the incentive program that we bought our house under was that we were given a 3.5% discount off the list price of the house. However, if we don't close precisely on the day that is specified in the contract, we lose that entire amount, plus we start to have to pay a daily penalty on top of that. Because of that, I don't want to rely on some outside mortgage company to come through.
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