Sunday, November 12, 2006

Update on this frustrating house situation.

Our buyer's loan isn't working out. The lender asked her to get her accountant to sign a form predicting what her income will be next year. She doesn't think he'll do it, because he'll apparently be held liable if she doesn't make as much as he predicts. THIS BITES. We found this out late Friday afternoon. She's using the same realty company as we are, and they are working on a loan through a mortgage lender they work closely with.

But who knows if it'll work, and if it does, who knows if the terms will be okay with her? Seems that a state to state loan is harder to come by, not to mention a loan for a self-employed woman. But if she's as wealthy as they've told us, WHAT IS THE PROBLEM??? I guess simply being wealthy doesn't automatically mean good credit.

I know she's serious about this house - she'll lose a big chunk of earnest money if the deal falls through, not to mention the appraisal she paid for. And if the deal falls through, we can't buy the new house. And we'll lose a big chunk of our own. We just can't afford both houses at once - not only will we not have any money down if we don't sell this one, but we can't afford two mortgages, or the possibility that a tenant would be a deadbeat. So far the people we're buying from have been very understanding, since they had an offer fall through due to financing issues as well.

I'm just sick. This weekend was spent reclaiming our house. ALL of the boxes I've packed were taken down to the sunroom, and we cleaned and tidied it all so that it's in condition to show again. But I packed things that I could do without for a couple of weeks, not months on end! The thought of doing this all again makes me want to pull all of my hair out.

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