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....let me just blow off some steam here....
We sold our house in less than two full days. The guy wanting to buy it, has a good job. The inspection went suprisingly well for a nearly 50y old house, we only had to fix 3 things for less than $100! So, we had to move all our stuff out before June 4th, because we were going to be out of town that weekend until June 7th (the original date of close). Over the holiday weekend, we didn't have fun, we packed two pickup trucks, our SUV, and the car more times than I can remember so that we would be done for him to move in the 7th. We get home and go about our business as usual, and then about noon I get a phone call.
The mortgage company he was using was going to loan him 100%, but from the time that he contracted to the day they tried to finalize the loan for close, he had several inquiries for credit that lowered his amount to borrow. He was able to get some $ from an individual to cover what wasn't going to be in the first loan (about $4500). The mortage company said-Nope. So, he has since changed mortgage companies and is now getting an FHA loan....are you still following this?!....so, we had to write some new papers that will have them closing on or before June 18th. (Did I mention that we already bought plane tickets and rented a car in Florida for DW to go get us a new home from June 24-29??).
The really weird thing about this is that we were selling the home for $141K, nearly $2K more than what we were asking for it....now we are selling it for $146K and the extra money that is generated from the sale is being placed into some federal account to help people with their down payments. I am not sure I follow it, but if it closes and we still get the same amount that we were supposed to originally, I will be happy.
Add this to the run around that we were getting from the Air Force in just getting a letter to the mortgage company, it made for one hell of a day.....that is not counting DW finding out that she WON'T be able to do her last month of residency in Florida because the chief's , her fellow residency-mates, are being pricks. She is held over for three extra months(along with five other women), meaning that she will just be an extra person to throw into the call schedule anyway(along with the five other women)...and by all means they are going to do it with no consideration for her moving her family away a month before she is actually finished. Needless to say, Gretchen was so pissed off yesterday that I locked her in the bedroom with the computer on Spider Solitaire and wouldn't let her out until she had return the glass that I made her a drink in empty!!
What an ordeal!
Word to the wise- when buying a house, NEVER make any large purchases or requests for credit until your home loan is closed!!!!!!!!!!!!!!!!
We sold our house in less than two full days. The guy wanting to buy it, has a good job. The inspection went suprisingly well for a nearly 50y old house, we only had to fix 3 things for less than $100! So, we had to move all our stuff out before June 4th, because we were going to be out of town that weekend until June 7th (the original date of close). Over the holiday weekend, we didn't have fun, we packed two pickup trucks, our SUV, and the car more times than I can remember so that we would be done for him to move in the 7th. We get home and go about our business as usual, and then about noon I get a phone call.
The mortgage company he was using was going to loan him 100%, but from the time that he contracted to the day they tried to finalize the loan for close, he had several inquiries for credit that lowered his amount to borrow. He was able to get some $ from an individual to cover what wasn't going to be in the first loan (about $4500). The mortage company said-Nope. So, he has since changed mortgage companies and is now getting an FHA loan....are you still following this?!....so, we had to write some new papers that will have them closing on or before June 18th. (Did I mention that we already bought plane tickets and rented a car in Florida for DW to go get us a new home from June 24-29??).
The really weird thing about this is that we were selling the home for $141K, nearly $2K more than what we were asking for it....now we are selling it for $146K and the extra money that is generated from the sale is being placed into some federal account to help people with their down payments. I am not sure I follow it, but if it closes and we still get the same amount that we were supposed to originally, I will be happy.
Add this to the run around that we were getting from the Air Force in just getting a letter to the mortgage company, it made for one hell of a day.....that is not counting DW finding out that she WON'T be able to do her last month of residency in Florida because the chief's , her fellow residency-mates, are being pricks. She is held over for three extra months(along with five other women), meaning that she will just be an extra person to throw into the call schedule anyway(along with the five other women)...and by all means they are going to do it with no consideration for her moving her family away a month before she is actually finished. Needless to say, Gretchen was so pissed off yesterday that I locked her in the bedroom with the computer on Spider Solitaire and wouldn't let her out until she had return the glass that I made her a drink in empty!!
What an ordeal!
Word to the wise- when buying a house, NEVER make any large purchases or requests for credit until your home loan is closed!!!!!!!!!!!!!!!!
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