Ok. So I’m gonna rant and you need to know that before you read further…
I had a HUD closing scheduled for July 29, another for August 1, and still another for August 8. It’s now August 2nd and I have no idea what the hell is going on. Because no one from Luna & Luna (HUD’s prescribed closing fiasco that I have to work with) won’t return calls or emails.
Of course this is HUD’s own fault for the way they dealt with their contractor situation to begin with. AMRE, a HUD contractor who oversees the properties, made the mistake of emailing me and asked how the transaction was going. Here was my response:
I have to say I’m greatly disappointed with Luna & Luna. I have/had a closing on the 29th of July and the 1st of August and have never heard anything from them…including whether or not they even acknowledge the extensions we sent them!!!!!
The property you oversee is scheduled to close on August 8 and I have no idea whatsoever whether it will close or not. Communication is virtually non-existent and it’s only one sided in terms of they will email me a statement but not answer any follow up questions. It’s absolutely ridiculous and it’s no way to clear inventory.
I have three (yours being one) cash closings that we may or may never close on because of the incompetence of Luna and Luna and the fact that HUD couldn’t negotiate their contracts in time to avoid slamming Luna & Luna with hundreds of files at once. It’s train wreck of HUD’s own making.
Sadly, once again, my customers are caught not knowing what the hell is going on and whether or not we can close on any of these properties. HUD has/had no problem taking our earnest money, but has never communicated why there was a closing moratorium and Luna & Luna won’t communicate when we will close. It’s really sad.
Kansas City Investment Property and Property Management 
I thought it was just me. This is the most asinine processes I’ve ever seen. I purchased HUD properties before and closed conventionally.
I have a transaction that was accepted on 5/3 and it’s still NOT closed. I have called, emailed and sent smoke signals to Luna and Luna with Zero response. Unbelievable.
I’m with you all have filed 3 extensions because luna and luna won’t communicate with anyone. Emails and voicemails never returned. Still have not closed and we have done everything luna and luna asked. My bid was put in early May and no acceptance of bid until early June and now it Sept and still no closing?? What is the problem here waiting on them to get this done luna and luna won’t even send info to lender to wire funds?
We “lost” one bid because I didn’t jump through enough hoops. Criminal. We FINALLY closed one but that was a complete joke as we got to closing and the closer didn’t have any docs whatsoever so we had to sit around for and extra hour and a half. And the third one I just got warned again that if I don’t do my extension it will expire. 4+ freaking months and the onus is still on us? Unbelievably incompetent.
Luna seems to have gotten the bugs worked out of their system. 2nd closing was on time with no need for extension filing.
To be fair, I’ve heard the same thing. I’m just now beginning to bid on Missouri HUD homes again. 🙂
Chris,
How does it seem to be going now? You said back in December you were going to start to bid again. I am just curious if they are actually doing ok now, or if it is just the same old same old.
Thanks
You timing is downright funny! We just bid on three HUD homes yesterday. So later this morning I’ll have an answer on those. These are the first HUD homes I’ve bid on since all this. I will have to update you in about 30 days or so. 🙂
That would be great!!! Good Luck!
So far, so good. Much more responsive this time around. We haven’t closed yet. But they seem to be pro-active all these months later.
Did you close yet?
Thanks
I to am fighting the same battle here in Minnesota. The closers that Luna & Luna have are not so great to work with. Response time is horrible and the fact that they don’t tell the truth to agents is simply amazing.
Seeing all these postings has me concerned. This is my first dealing with HUD and were having the exact same problem in Minnesota with Luna & Luna. They don’t respond to my real estate agent or my finance agent. We’re 2 weeks away from our 45 day deadline and the hold up is definately not with us!
We’ve blew our first closing date with Luna and Luna on May 14th due to the address being filed incorrectly on their part. We were currently rescheduled for May 23rd but I literally received a call today stating another amendment must be filed to correct more inaccuracies. We were told by Luna and Luna to expect six days to process not including the day of submission. We have already filed an extension once and it expires on May 29th. Our PA was signed in March…
Luna and Luna is miserable in missouri, no communications at all I had to get the lien removed, the closer was snotty and lazy. she went a week and did nothing wehn you ask them who pays the buyers extensions fee? and go above their head you get action only then What an awful experience
I will say that it’s been bump free for most of the year but I do have two situations now that are mostly out of Luna and Luna’s control. The problem recently is that HUD still doesn’t get it and keeps moving the rules around. HUD has made so many mistakes that should have been foreseen (like why does the BUYER have to put up ADDITIONAL FUNDS when the seller is the one who can’t close on time?) that it really makes you wonder about the competence of our decision makers.
By the way, they FINALLY, a month ago, figured out that asking the buyer for more money was a stupid idea.
I’ll rant about HUD and commissions later. Such as, what business of theirs is it how much money I charge?
We have the same problems here in Texas. I bit on a HUD home in May, they were quick to accept it and get the ball rolling, then after 2 extensions and never getting a email response or person on the line for more then two weeks just makes me VERY upset. I’ve heard from other people that have gone though the same things recently so I took the loss and will not do anymore transactions with them until I know for certain that things have changed. My guess is they won’t be anytime soon.
It’s FUBAR that you have to lose your deposit and/or extension monies because they can’t perform. But par for the course.
Is there no legal action that can be brought against them? Why is everyone just taking the loss? I’m currently experiencing the same thing with Luna and Luan in TX.
Ah Luna & Luna, I am loosing customars because them!
No communication at all 😦
Luna & Luna (known in some circles as “Looney & Looney”) out of 20+ properties bought and sold…this is the absolute worst handling of a
closing ever….austin, tx
I have found if you copy the asset manager in on your communication (in my case it was HomeTelos) you almost always get a response from Luna and Luna. After 3 phone calls and numerous emails about a closing date, this was the only way I got an answer. They are awful…
This company is a joke. The title agent assigned to our closing responded once to out many phone calls and emails. We were supposed to close 2 weeks ago, but due to the negligence of luna and luna we had to file an extension. Our loans paperwork has been with them for 3 weeks. The only thing they were waiting on way hoa verification but they hadn’t even contacted the management company. Blatantly lied that they had called and left messages to get the information. They almost cost us a grand and the contract on our house, without our realtor taking it upon herself to file and extension just in case because we had no response whatsoever from luna and luna. Worst experience on record.