ibitter.com - the understory

iBitter is Dedicated to my Underwriter at Flag Star Bank.

In May of 2009, my girlfriend and I were set to close on our first house.  We had been waiting for over 2 months to close the deal.  Reason being, that we had received a Federal Grant which could be applied to our closing costs.  Well as with anything “gov-related”, we had a waiting period of at least 45 days before we could receive the funds.

In the meantime, we did everything we were asked to do by our realtor and broker; correct and prompt.  We wanted to make sure that we were ready to go once the funds arrived.

Well the night before our closing, the underwriter of our loan, decided that she did not “like” the fee that was associated with receiving the “Federal” grant.  She said that we could not close the next day unless we have the fee taken care of.  Well disappointed, we still charged on and our realtor was able to get the fee associated with the “Federal” grant waived. 

At this point we have a moving truck full of our things and are now living in an empty apartment. We are told by several parties involved, that we should bite the bullet and go ahead and rent the truck for another day, because we had everything we needed to proceed with the closing.

Next day comes around and we wait in our apartment for over 8 hours, only to finally hear from the underwriter at around 4PM.  She informs us that she just plain does not “like” the “Federal” organization that provided us the “Federal” grant.  So she tells us at the close of the business day, as well as the close of the business week (and the start of a 4 day weekend) that she does not approve our FHA “FEDERAL” loan, because she just doesn’t believe that the “FEDERAL” grant we received was “ILLEGAL??”.  Hundreds of people have gone through Flag Star Bank with the funds from the same organization and closed with no problem.  This lady was aware of that, and she was also aware of the fact the we had a moving truck full of everything we own - ready to move into our house.

In the process of “venting” to anyone I could about this situation I realized that, it is just not enough.  How can I express this frustration I am feeling because of this woman who has the heart of a rotting jack-ass?  I got it!  I will develop a website where people can post anonymously about people based on their first name , city and the reason they can go F*ck themselves.

Here we have the story behind iBitter.

ENJOY!