Definition of stress....


The_Kat

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Being told you close on your house on Tuesday only to be called hours later and told there is a problem, jumping through hoops trying to please your underwriter, all the while thinking the house was yours and finding out you may be SOL.

Then having your truck break down with a possible cracked block or blown head.

Top it all off with a ambulance ride to OKC with your dad on a possible heart attack.

Makes for a awesome week......

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Hey bud! Hope Dad is doing well. As for the house, it has gotten real difficult to get a mortgage right now, everything has to be perfect. All those mortgage companys and banks loaned anyone money for a house and even up to 125 % of there value at times. Got about half of the market upside down on their properties before they even moved in. Then the economy went south and people let the houses go back. Now all the folks that are actually in the position to buy homes are suffering from it. Some real careless loan practices from some created a big problem for all I am afraid. You know how it goes, if it was meant to be it will all work out in the end.

As for the truck......... should have bought a chevy :p:p:p:D:D

You got my number bro, give me a shout if ya need to vent

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Dads home. Tests showed pneumonia and no heart problems. Has a dr appt. In the am. Thanks for your thoughts and prayers. Got word tonight house is a no go. Not real sure what Jenn and cash are gonna do except live with my parents. I can begin to describe the friggin anger and heartbreak that this is. It would be one thing if they said we were a risk early on. As of Thursday we were good to close yesterday. I took a week off work, out travel costs, inspection fees, appraisal fees, etc. All for nothing.

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Dads home. Tests showed pneumonia and no heart problems. Has a dr appt. In the am. Thanks for your thoughts and prayers. Got word tonight house is a no go. Not real sure what Jenn and cash are gonna do except live with my parents. I can begin to describe the friggin anger and heartbreak that this is. It would be one thing if they said we were a risk early on. As of Thursday we were good to close yesterday. I took a week off work, out travel costs, inspection fees, appraisal fees, etc. All for nothing.

I warned you!

But, it was not all for nothing. What you have now is an education on how the process works and what can go wrong. It's a learning experience and everything will work out for you with a house. Keep your head high and stay strong. I had problems with my first offer on a house and was set to close when the poo hit the fan, I got out quick and had an offer on another house within hours.

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Dads home. Tests showed pneumonia and no heart problems. Has a dr appt. In the am. Thanks for your thoughts and prayers. Got word tonight house is a no go. Not real sure what Jenn and cash are gonna do except live with my parents. I can begin to describe the friggin anger and heartbreak that this is. It would be one thing if they said we were a risk early on. As of Thursday we were good to close yesterday. I took a week off work, out travel costs, inspection fees, appraisal fees, etc. All for nothing.

I would be all over that bank if you got stuck with appraisal and inspection fees and they backed out of the loan. That stuff should never been ordered unless you were already qualified. I would make a phone call to a lawyer about that if I were you.

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I warned you!

But, it was not all for nothing. What you have now is an education on how the process works and what can go wrong. It's a learning experience and everything will work out for you with a house. Keep your head high and stay strong. I had problems with my first offer on a house and was set to close when the poo hit the fan, I got out quick and had an offer on another house within hours.

The offer is good. It's the financing. Any advice on how to not take 2 months ringer tonclosing with a new bank?

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The offer is good. It's the financing. Any advice on how to not take 2 months ringer tonclosing with a new bank?

I dont really understand the last part of the question.

What was the problem you had? I would think the underwriter had a lot to do with it, the asking price, your offer and what you were financed for all have to be somewhat close for it to not throw flags for the underwriter and loan officers. My offer was lower than the appraised value of the house which was lower then their asking price. The underwrite did not like that fact, started researching and finding things with the house and a whole lot of hassel and stress started to come about. I backed out with my money and ran. Even though it was the house I wanted, I was not going to deal with stress anymore than I had too. I had to man up and walk away when I could before I got too deep in with money before the purchase. Kinda where you're at now.

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Glad to hear that Dad is better than expected.....that's great.

Cars can be fixed.

As for the house, I don't understand. If you were pre-qualified, then you were pre-qualified. What specifically was the issue? I would talk to the seller first thing in the morning and reassure them that you want the house but that you are going to have to delay closing (believe it or not, it is not that uncommon). Talk to a couple other lenders and explain the situation to them and ask them (talk to someone in management) if they can close the loan. Someone else will.

If the seller has a contingency with someone else, then just understand that there's something better around the corner. I have too many of these disaster stories that turned out with something much better around the corner. If things worked out the way I wanted, I would have missed the better opportunity.

Hang in there pal, this is life...like it or not. As your kids grow up, events like these give you opportunities to show them how to respond to adversity and setbacks. It will shape their character by how you demonstrate yours.

Give it a week and things will look much different.

New

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Apologize for typos. I'm on my cell.

The issue the underwriter had is my job has seasonal layoffs.

Its ok, we all understand.

Yeah, I could see the underwriter having issues with that. They are only concerned about the money you make and are going to give them, if they see that you will have month with zero income, they dont care how much you made the month before. They know some people have a hard time budgeting and live pay check to pay check no matter how much those paychecks are.

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Apologize for typos. I'm on my cell.

The issue the underwriter had is my job has seasonal layoffs.

Its ok, we all understand.

Yeah, I could see the underwriter having issues with that. They are only concerned about the money you make and are going to give them, if they see that you will have month with zero income, they dont care how much you made the month before. They know some people have a hard time budgeting and live pay check to pay check no matter how much those paychecks are.

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Glad to hear you father is ok Kyle, thats the most important thing.

The other stuff will work out somehow. Maybe the crap with the house is a sign of some sort that its just not meant to be. Sure there will be other homes and opportunities.

We dealt with farm credit services when we got into the deal with our house, thankful because I have nothing but good to say of the process and our close, very good people to work with. Too bad the house building process has not gone as well as our experience with our lender, but that is another topic.

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