Wednesday, June 3, 2009

Overdue Update

So here's the news. We were set to close on our house on May 15th. It didn't happen because the bank called on May 14th and said they needed more paperwork. We got it to them and rescheduled for May 21st. They called on May 20th, saying there were problems with the paperwork again, and that we still didn't have loan. So we worked through the paperwork without setting a closing date. Finally got all straightened out on the 27th so we set our date again for June 1st. They were supposed to call me on the 29th to tell me the amount to bring to closing. They never called. Monday comes, I take my kids to Andrea because she so graciously agreed to watch my kids for me. I still don't have an amount. I called at 10:30 (we were set to close at 1:30) to ask the amount. Our loan officer was out of town... and didn't care to tell us she would be in advance. I get another loan officer to look at our file. She tells us there's an "internal system error" and it looks like the loan isn't finished and won't be able to be finished until maybe later this week. *Sigh* This didn't sound right to us. The loan should've been finished last week. Anyway, yesterday, our loan officer decided to not answer her phone. I called our sales rep for the home builder. She calls the bank and talks to the loan officer's supervisor. What do you know? Our loan officer decides to call us within minutes of that phone call. So then she tells us we were denied a loan. Finally, after 5-6 weeks of "we just need this or that". To make things better, we're out of time to use another lender. Our lease is up, and another family is waiting for our apartment. So Ben is negotiating getting our money that we've invested in this house back, while I find an apartment. On the bright side, we have money to lower our debt. We will most likely still be moving closer to work. We are sad that things didn't work out the way we wanted, but I have to believe that there's a good reason it didn't and that things will work out for the best.

1 comment:

Jo Jo said...

I'm soooo sorry! It's such a tough market right now. You are right to get your debt lowered. That's why we're not buying one right now either. It's always too tempting to buy things when you own the house. Best of luck - keep your chin up - hopefully you'll get to stay in the same ward?