July 26, 2008

Homeless

Yesterday was one of the worst days of my life. John & I were scheduled to close on our new house yesterday at 8:30am. At about 8:45am, we got a call from our mortgage lender telling us that they couldn't give us the loan. So not only were we unable to close on our house, but the people we were buying the house from were unable to close on their new house. Furthermore, they had already started moving in, so the realtor had to call them & tell them to stop moving & to go back home. Yeah. Definitely not my proudest moment.

Long story short, from 8:00am-6:0pm, we were sitting in either the realtor's office, a new mortgage lender/broker's office, or at the bank. The good news is, it looks like we're getting approved from multiple lenders for a new home loan. The bad news is, I have to be out of my apartment by next Saturday & as of now, I have nowhere to live. The realtor & all of the various lenders are busting their respective asses trying to get this closing done before next Friday, so we'll see. We're also entertaining the idea of signing some kind of "move in agreement" that allows us to move in before we close.

We're meeting with another lender today, so this process is on-going. Right now, we've got 2 different lenders telling us that we're approved. I assume this guy today will tell us the same thing. If that happens, we'll go with the best deal & whomever can close the fastest. We're supposed to know on Monday or Tuesday if we can sign this move in agreement & move on in.

Thanks to everyone that was slated to help us move today. I hope you find some other pleasurable way to enjoy your day, maybe something with less heavy lifting. Most importantly, thanks to my mom who talked me off the ledge no less than 100 times yesterday.

In conclusion, here are some things this first-time home buyer has learned:

  • Do not use Lending Tree
  • Hire your own realtor
  • Always go with a local mortgage lender/broker
  • Only use lenders with in-house underwriters (who knew?)
  • When the shit hits the fan & you're seconds away from a full-on physical assault, step back, count to 10 & let your more level-headed fiance handle it.

5 comments:

Panda Parables said...

so so so sorry to hear about that. you always have a couch to sleep on in smyrna if need be!

carolyn said...

i hate all of this for the two of you....you deserve an extremely big ice cream sundae with everything that could possibly go on it!!!

chester copperpot said...

sorry. that must have been awful. it sounds like you're handling it well, though. hang in there.

muggins mouse said...

gosh, i'm sorry man...that is not a fun situation to be in, I can imagine....but just realize that when it's all settled that you will finally be able to breathe a sigh of relief..just keep looking forward to that sigh... ;-)

jessica said...

what's that lenders name? i have mad mob connections. i have people.

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